Levin Capital Strategies L.P. Sells 15,867 Shares of Energy Transfer LP (NYSE:ET)

Levin Capital Strategies L.P. lowered its stake in Energy Transfer LP (NYSE:ET - Free Report) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,534 shares of the pipeline company's stock after selling 15,867 shares during the period. Levin Capital Strategies L.P.'s holdings in Energy Transfer were worth $343,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock valued at $5,567,000 after buying an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer during the 4th quarter valued at $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock valued at $148,621,000 after purchasing an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC raised its stake in Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after purchasing an additional 37,633 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock valued at $3,885,000 after purchasing an additional 57,184 shares during the period. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Down 1.4 %

NYSE:ET traded down $0.27 during trading hours on Wednesday, reaching $18.21. The company's stock had a trading volume of 23,246,761 shares, compared to its average volume of 17,356,801. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a one year low of $14.87 and a one year high of $21.45. The business's 50-day moving average is $19.87 and its 200-day moving average is $18.08. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

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%. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 7.14%. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio is 101.56%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their target price 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. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.55.

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.