Energy Transfer LP (NYSE:ET) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in Energy Transfer LP (NYSE:ET) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,388,226 shares of the pipeline company’s stock after selling 96,191 shares during the period. Exchange Traded Concepts LLC’s holdings in Energy Transfer were worth $27,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $1,297,000. Kingsview Wealth Management LLC boosted its position in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the period. Paragon Capital Management Ltd grew its stake in shares of Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after buying an additional 55,890 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ET shares. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their target price 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. Royal Bank of Canada lifted 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, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

Shares of ET stock opened at $21.10 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market cap of $72.23 billion, a PE ratio of 15.52, a P/E/G ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.79 and a 1 year high of $21.45. The stock has a fifty day moving average price of $19.23 and a 200 day moving average price of $17.28.

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, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

About Energy Transfer

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.