Energy Transfer LP (NYSE:ET) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,052 shares of the pipeline company's stock after selling 35,240 shares during the period. Bank of New York Mellon Corp's holdings in Energy Transfer were worth $2,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter worth $29,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the fourth quarter worth about $37,000. Citizens National Bank Trust Department acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $39,000. Continuum Advisory LLC boosted its position in Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock valued at $40,000 after buying an additional 729 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter worth approximately $41,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE:ET traded down $0.01 during trading hours on Tuesday, reaching $18.87. 8,714,941 shares of the company were exchanged, compared to its average volume of 14,513,480. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market cap of $64.75 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45. The stock's 50-day moving average is $19.56 and its 200-day moving average is $18.31.

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Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is 101.56%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.09.

About Energy Transfer

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.