Energy Transfer LP (NYSE:ET) Position Decreased by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,504 shares of the pipeline company’s stock after selling 4,516 shares during the quarter. Energy Transfer makes up 1.7% of Redwood Wealth Management Group LLC’s portfolio, making the stock its 10th largest holding. Redwood Wealth Management Group LLC’s holdings in Energy Transfer were worth $3,573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ET. Sei Investments Co. boosted its stake in shares of Energy Transfer by 77.4% during the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after acquiring an additional 20,093 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Energy Transfer by 26.5% during the 3rd quarter. Fulton Bank N.A. now owns 32,172 shares of the pipeline company’s stock valued at $516,000 after buying an additional 6,735 shares in the last quarter. Axiom Advisory LLC lifted its stake in shares of Energy Transfer by 3.6% during the 3rd quarter. Axiom Advisory LLC now owns 35,466 shares of the pipeline company’s stock valued at $571,000 after buying an additional 1,248 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Energy Transfer by 5.6% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock valued at $2,209,000 after buying an additional 7,344 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Energy Transfer by 11.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock valued at $527,000 after buying an additional 3,472 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of 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 lifted their target price 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. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Performance

Energy Transfer stock opened at $20.77 on Wednesday. The company’s 50-day moving average price is $19.63 and its 200-day moving average price is $17.54. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $71.10 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the firm posted $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.26%. Energy Transfer’s payout ratio is 94.85%.

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.