International Assets Investment Management LLC Sells 3,915,237 Shares of Energy Transfer LP (NYSE:ET)

International Assets Investment Management LLC trimmed its position in Energy Transfer LP (NYSE:ET - Free Report) by 93.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,494 shares of the pipeline company's stock after selling 3,915,237 shares during the quarter. International Assets Investment Management LLC's holdings in Energy Transfer were worth $5,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of 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 during the period. BNP Paribas Financial Markets grew its holdings in 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 worth $185,594,000 after acquiring an additional 3,106,631 shares during the period. Citigroup Inc. boosted its position in shares of Energy Transfer by 45.9% during the 3rd 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. Pathway Financial Advisers LLC grew its stake in shares of Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the last quarter. Finally, Merewether Investment Management LP grew its position in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company's stock worth $106,919,000 after buying an additional 1,200,501 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Barclays upped their price target on Energy Transfer from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lifted 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $20.55.

Energy Transfer Stock Performance

NYSE ET traded up $0.22 on Wednesday, reaching $19.71. The stock had a trading volume of 9,007,061 shares, compared to its average volume of 16,512,867. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market cap of $67.49 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The firm has a fifty day moving average of $18.54 and a two-hundred day moving average of $16.99. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer's revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.54%. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

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.