Asio Capital LLC Lowers Position in Energy Transfer LP (NYSE:ET)

Asio Capital LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 33,500 shares of the pipeline company’s stock after selling 500 shares during the period. Asio Capital LLC’s holdings in Energy Transfer were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its position in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter worth $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the second quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $20.93 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The stock has a fifty day moving average of $19.39 and a two-hundred day moving average of $17.34. The company has a market capitalization of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.