Sowell Financial Services LLC Sells 39,130 Shares of Energy Transfer LP (NYSE:ET)

Sowell Financial Services LLC lowered its position in Energy Transfer LP (NYSE:ET) by 10.1% in the 4th quarter, Holdings Channel reports. The fund owned 347,104 shares of the pipeline company’s stock after selling 39,130 shares during the quarter. Sowell Financial Services LLC’s holdings in Energy Transfer were worth $6,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Empowered Funds LLC boosted its stake in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after buying an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after buying an additional 37,633 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Citigroup lifted their target price on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Down 1.2 %

Energy Transfer stock opened at $17.48 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12-month low of $14.87 and a 12-month high of $21.45. The firm has a market capitalization of $59.97 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72. The firm has a 50 day moving average of $19.81 and a 200 day moving average of $18.10.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.44%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.