Cullen Capital Management LLC Sells 46,685 Shares of Energy Transfer LP (NYSE:ET)

Cullen Capital Management LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,004 shares of the pipeline company's stock after selling 46,685 shares during the period. Cullen Capital Management LLC's holdings in Energy Transfer were worth $5,505,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Kayne Anderson Capital Advisors LP raised its holdings in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after purchasing an additional 1,723,683 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Energy Transfer by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock worth $228,470,000 after acquiring an additional 1,058,603 shares during the period. Hartree Partners LP bought a new position in shares of Energy Transfer in the 4th quarter worth about $16,083,000. Strategic Financial Concepts LLC lifted its stake in shares of Energy Transfer by 1,572.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company's stock valued at $14,699,000 after purchasing an additional 705,475 shares during the period. Finally, Mercuria Capital Strategies LLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $12,734,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

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Energy Transfer Stock Performance

Shares of ET traded down $0.62 on Wednesday, reaching $15.04. 16,160,994 shares of the company's stock traded hands, compared to its average volume of 15,053,290. The stock's 50 day simple moving average is $18.90 and its two-hundred day simple moving average is $18.43. The stock has a market cap of $51.59 billion, a PE ratio of 11.74, a PEG ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 8.65%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) 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.