Argent Trust Co cut its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,734 shares of the pipeline company's stock after selling 19,700 shares during the quarter. Argent Trust Co's holdings in Energy Transfer were worth $720,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Stonegate Investment Group LLC raised its stake in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock worth $672,000 after acquiring an additional 482 shares in the last quarter. Private Client Services LLC grew its stake 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 buying an additional 511 shares during the last quarter. Wealthspire Advisors LLC increased its position in Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after buying an additional 535 shares in the last quarter. Cannell & Spears LLC raised its stake in Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after buying an additional 546 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its holdings in Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after acquiring an additional 547 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Price Performance
Energy Transfer stock traded up $0.28 during midday trading on Tuesday, reaching $17.10. The company had a trading volume of 8,932,413 shares, compared to its average volume of 15,247,501. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm's fifty day simple moving average is $18.47 and its 200-day simple moving average is $18.44. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market capitalization of $58.69 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.64 and a beta of 1.32.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 7.60%. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio (DPR) is currently 101.56%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on ET shares. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. One 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 presently has an average rating of "Moderate Buy" and a consensus price target of $22.09.
Get Our Latest Research Report on Energy Transfer
Energy Transfer Profile
(
Free Report)
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.
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