Bourgeon Capital Management LLC Sells 40,325 Shares of Energy Transfer LP (NYSE:ET)

Bourgeon Capital Management LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,170 shares of the pipeline company’s stock after selling 40,325 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Energy Transfer were worth $1,316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the second quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several research analyst reports. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Up 3.0 %

Shares of NYSE ET opened at $20.90 on Wednesday. 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 firm has a 50-day simple moving average of $19.08 and a two-hundred day simple moving average of $17.23. Energy Transfer LP has a 1 year low of $13.78 and a 1 year high of $21.02. The company has a market cap of $71.54 billion, a P/E ratio of 15.36, a PEG ratio of 0.53 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Research analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio 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.