Energy Transfer LP (NYSE:ET) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC reduced its stake in Energy Transfer LP (NYSE:ET - Free Report) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,180 shares of the pipeline company's stock after selling 19,237 shares during the period. Wealthcare Advisory Partners LLC's holdings in Energy Transfer were worth $2,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ET. FMR LLC grew its stake in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock valued at $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock valued at $21,489,000 after purchasing an additional 1,269,778 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

Shares of NYSE ET traded up $0.03 during midday trading on Friday, reaching $20.28. The company had a trading volume of 14,533,663 shares, compared to its average volume of 11,469,590. The business's 50-day simple moving average is $19.02 and its 200 day simple moving average is $17.19. The stock has a market cap of $69.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.40. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same quarter last year, the company posted $0.31 earnings per share. The business's quarterly revenue was up .2% on a year-over-year basis. On average, analysts forecast that Energy Transfer LP will post 1.34 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. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a "buy" rating and a $20.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Finally, Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus target price of $20.82.

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.