Transcend Capital Advisors LLC Lowers Holdings in Energy Transfer LP (NYSE:ET)

Transcend Capital Advisors LLC decreased its position in Energy Transfer LP (NYSE:ET) by 22.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,429 shares of the pipeline company’s stock after selling 25,351 shares during the period. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,674,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in Energy Transfer during the 4th quarter valued at $37,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Energy Transfer in the 4th quarter worth $39,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Stock Down 2.7 %

ET opened at $19.40 on Friday. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. The firm’s 50 day simple moving average is $19.87 and its two-hundred day simple moving average is $17.90. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.55 billion, a PE ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. Energy Transfer’s payout ratio is 101.56%.

Energy Transfer Company 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.