Energy Transfer LP (NYSE:ET) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. reduced its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,948,412 shares of the pipeline company's stock after selling 50,000 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.14% of Energy Transfer worth $79,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Continuum Advisory LLC raised its stake in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock worth $40,000 after buying an additional 729 shares during the last quarter. MML Investors Services LLC increased its holdings in Energy Transfer by 2.4% during the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company's stock valued at $1,765,000 after acquiring an additional 2,620 shares in the last quarter. Zacks Investment Management purchased a new position in Energy Transfer during the 3rd quarter valued at about $181,000. National Bank of Canada FI raised its position in Energy Transfer by 56.8% during the third quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company's stock worth $728,000 after acquiring an additional 16,439 shares during the last quarter. Finally, Brookfield Corp ON lifted its holdings in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock valued at $210,896,000 after purchasing an additional 352,625 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price target on the stock. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $20.38.

Energy Transfer Stock Down 2.1 %

Shares of ET stock traded down $0.41 during trading hours on Monday, reaching $18.85. The company had a trading volume of 14,262,509 shares, compared to its average volume of 13,713,907. The company has a market capitalization of $64.54 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02. The stock's fifty day simple moving average is $17.29 and its 200 day simple moving average is $16.42.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the company earned $0.31 earnings per share. Energy Transfer's revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

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.