Energy Transfer LP (NYSE:ET) Shares Sold by Fairman Group LLC

Fairman Group LLC decreased its position in shares of Energy Transfer LP (NYSE:ET) by 46.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,650 shares of the pipeline company’s stock after selling 10,295 shares during the quarter. Fairman Group LLC’s holdings in Energy Transfer were worth $228,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Energy Transfer by 60.6% in the 3rd quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 37,136 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Energy Transfer by 4.0% in the third quarter. Redhawk Wealth Advisors Inc. now owns 35,274 shares of the pipeline company’s stock valued at $566,000 after acquiring an additional 1,361 shares during the period. Wesbanco Bank Inc. grew its position in shares of Energy Transfer by 48.9% during the third quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock worth $586,000 after acquiring an additional 12,000 shares during the last quarter. Creative Planning increased its holdings in shares of Energy Transfer by 16.9% in the 3rd quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock valued at $12,777,000 after acquiring an additional 115,081 shares during the period. Finally, NBC Securities Inc. raised its position in Energy Transfer by 6.8% in the 3rd quarter. NBC Securities Inc. now owns 68,738 shares of the pipeline company’s stock valued at $1,103,000 after purchasing an additional 4,381 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

NYSE:ET opened at $19.84 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a fifty-two week low of $13.94 and a fifty-two week high of $21.45. The firm’s fifty day simple moving average is $19.72 and its 200-day simple moving average is $17.68. The stock has a market cap of $67.93 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) 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 net margin of 5.90% and a return on equity of 12.38%. Analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.55%. Energy Transfer’s payout ratio is currently 94.85%.

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.