Anthracite Investment Company Inc. Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

Anthracite Investment Company Inc. lowered its stake in Energy Transfer LP (NYSE:ET - Free Report) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,000 shares of the pipeline company's stock after selling 31,884 shares during the period. Energy Transfer accounts for 1.2% of Anthracite Investment Company Inc.'s holdings, making the stock its 19th largest holding. Anthracite Investment Company Inc.'s holdings in Energy Transfer were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in shares of Energy Transfer by 57.0% in the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company's stock valued at $348,000 after buying an additional 7,870 shares during the period. Cerity Partners LLC grew its holdings in Energy Transfer by 29.1% during the 3rd quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company's stock worth $3,893,000 after acquiring an additional 54,611 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Energy Transfer by 111.9% during the third quarter. Brown Brothers Harriman & Co. now owns 67,401 shares of the pipeline company's stock valued at $1,082,000 after acquiring an additional 35,595 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Energy Transfer by 19.7% during the third quarter. Private Trust Co. NA now owns 24,213 shares of the pipeline company's stock worth $389,000 after purchasing an additional 3,983 shares during the period. Finally, FMR LLC grew its stake 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 worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

ET has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Stifel Nicolaus increased their target price 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. Morgan Stanley boosted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Down 0.9 %

Shares of NYSE ET traded down $0.17 during trading on Friday, hitting $18.72. 10,718,461 shares of the company traded hands, compared to its average volume of 14,589,445. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business's fifty day moving average is $19.46 and its 200 day moving average is $18.37. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly 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%. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is 101.56%.

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.