Griffin Asset Management Inc. Has $1.93 Million Holdings in Energy Transfer LP (NYSE:ET)

Griffin Asset Management Inc. lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 98,593 shares of the pipeline company’s stock after selling 628 shares during the period. Griffin Asset Management Inc.’s holdings in Energy Transfer were worth $1,931,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC raised its stake in shares of 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 in the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at $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. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.80 on Tuesday. The firm has a market cap of $67.80 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The business has a 50-day simple moving average of $19.39 and a two-hundred day simple moving average of $17.36. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. 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 (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the business posted $0.31 EPS. Energy Transfer’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Analysts Set New Price Targets

ET has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays lifted their target price on shares of 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 research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research 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 a consensus rating of “Moderate Buy” and a consensus target price 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.