Energy Transfer LP (NYSE:ET) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,165,263 shares of the pipeline company's stock after selling 478,496 shares during the period. Clearbridge Investments LLC owned 0.47% of Energy Transfer worth $316,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at $29,000. United Community Bank bought a new position in Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners purchased a new stake in Energy Transfer in the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC lifted its position in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.6 %

ET stock traded up $0.11 during trading on Wednesday, reaching $18.84. 5,214,433 shares of the company traded hands, compared to its average volume of 16,187,603. The company has a market capitalization of $64.64 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $18.43. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45.

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Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data 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%. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 101.56%.

Analyst Ratings Changes

Several research analysts recently commented on ET shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.09.

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.