Levin Capital Strategies L.P. Has $343,000 Position in Energy Transfer LP (NYSE:ET)

Levin Capital Strategies L.P. trimmed its stake in Energy Transfer LP (NYSE:ET - Free Report) by 47.5% during the fourth quarter, according to its most recent 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at $29,000. Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter worth $37,000. Finally, Citizens National Bank Trust Department acquired a new position in Energy Transfer in the fourth quarter valued at about $39,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.4 %

Shares of ET traded down $0.09 during mid-day trading on Monday, hitting $19.21. 7,578,354 shares of the company's stock were exchanged, compared to its average volume of 16,747,188. The company has a 50-day simple moving average of $19.92 and a 200 day simple moving average of $18.04. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market cap of $65.90 billion, a PE ratio of 15.02, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 52 week low of $14.87 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.77%. 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 payout ratio is 101.56%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Citigroup lifted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.