Morningstar Investment Management LLC Trims Holdings in Energy Transfer LP (NYSE:ET)

Morningstar Investment Management LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,192 shares of the pipeline company's stock after selling 80,034 shares during the period. Energy Transfer accounts for approximately 0.3% of Morningstar Investment Management LLC's investment portfolio, making the stock its 29th biggest holding. Morningstar Investment Management LLC's holdings in Energy Transfer were worth $4,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stonegate Investment Group LLC grew its stake in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock worth $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC raised its holdings in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock worth $331,000 after purchasing an additional 511 shares during the period. Daymark Wealth Partners LLC boosted its position in Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after purchasing an additional 547 shares in the last quarter. Platform Technology Partners grew its holdings in Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock valued at $1,318,000 after purchasing an additional 553 shares during the period. Finally, Marcum Wealth LLC grew its holdings in Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company's stock valued at $252,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted 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. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of 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 boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.18.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.55 on Friday, hitting $19.40. 13,929,832 shares of the company were exchanged, compared to its average volume of 16,715,971. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $66.55 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company has a 50-day moving average price of $19.86 and a 200 day moving average price of $17.87.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results 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%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is currently 101.56%.

About Energy Transfer

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.