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

Asio Capital LLC decreased its holdings in Energy Transfer LP (NYSE:ET) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,500 shares of the pipeline company’s stock after selling 500 shares during the quarter. Asio Capital LLC’s holdings in Energy Transfer were worth $656,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $29,000. Princeton Global Asset Management LLC raised its holdings in 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 valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% in the third 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. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth approximately $33,000. Finally, Continuum Advisory LLC increased its position in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.6 %

ET stock opened at $20.93 on Friday. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The company has a fifty day moving average price of $19.39 and a 200 day moving average price of $17.34. 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 LP has a 12 month low of $13.79 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates 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 in the previous year, the business posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business 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 of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped 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. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. 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 for the company. Finally, 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 research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has an average 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.