Fermata Advisors LLC Sells 1,619 Shares of Energy Transfer LP (NYSE:ET)

Fermata Advisors LLC lowered its position in Energy Transfer LP (NYSE:ET) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,316 shares of the pipeline company’s stock after selling 1,619 shares during the quarter. Fermata Advisors LLC’s holdings in Energy Transfer were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ET. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased 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 bought a new position in shares of Energy Transfer in the fourth quarter valued at about $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.28 on Friday. The firm’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $17.16. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.40. The company has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.36%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analyst Weigh In

ET has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. 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 research report on Wednesday, December 18th. One 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, the company has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.