PDS Planning Inc Decreases Stock Holdings in Energy Transfer LP (NYSE:ET)

PDS Planning Inc decreased its position in Energy Transfer LP (NYSE:ET) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,063 shares of the pipeline company’s stock after selling 1,799 shares during the quarter. PDS Planning Inc’s holdings in Energy Transfer were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ET. FMR LLC increased its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. BNP Paribas Financial Markets increased its position in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. Citigroup Inc. increased its position in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after buying an additional 1,723,683 shares during the period. Finally, Prospera Private Wealth LLC increased its position in shares of Energy Transfer by 1,680.2% during the third quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after buying an additional 730,706 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ET. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup boosted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Down 1.2 %

Shares of NYSE ET opened at $18.67 on Wednesday. The firm’s 50 day moving average price is $19.62 and its 200-day moving average price is $18.23. The company has a market cap of $64.04 billion, a PE ratio of 14.58, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.96%. Energy Transfer’s dividend payout ratio is 101.56%.

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.