Exchange Traded Concepts LLC Sells 96,191 Shares of Energy Transfer LP (NYSE:ET)

Exchange Traded Concepts LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,388,226 shares of the pipeline company’s stock after selling 96,191 shares during the period. Exchange Traded Concepts LLC’s holdings in Energy Transfer were worth $27,195,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter worth $29,000. Princeton Global Asset Management LLC grew its holdings in 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 valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new position in shares of Energy Transfer in the second quarter worth about $33,000. Finally, Continuum Advisory LLC lifted its position in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.2 %

ET stock opened at $21.10 on Friday. The company has a market capitalization of $72.23 billion, a PE ratio of 15.52, a P/E/G ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. The firm’s 50-day moving average is $19.23 and its 200 day moving average is $17.28.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.12%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ET. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. 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. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.