Custom Index Systems LLC Has $1.38 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Custom Index Systems LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,623 shares of the pipeline company’s stock after selling 2,561 shares during the period. Custom Index Systems LLC’s holdings in Energy Transfer were worth $1,384,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stonegate Investment Group LLC increased its holdings in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares in the last quarter. Private Client Services LLC grew its position in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after purchasing an additional 547 shares in the last quarter. Marcum Wealth LLC raised its position in Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 561 shares during the last quarter. Finally, Financial Freedom LLC raised its position in Energy Transfer by 26.8% in the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 614 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted 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. 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 report on Monday, January 13th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group boosted their price objective 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. Finally, 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $20.47 on Friday. The business has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $17.46. Energy Transfer LP has a 1-year low of $13.79 and a 1-year high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a market cap of $70.08 billion, a P/E ratio of 15.05, a PEG ratio of 0.54 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results 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 business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 95.59%.

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.