Tandem Investment Advisors Inc. Cuts Stock Position in Energy Transfer LP (NYSE:ET)

Tandem Investment Advisors Inc. trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,171 shares of the pipeline company’s stock after selling 2,096 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Energy Transfer were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. O Brien Greene & Co. Inc acquired a new position in Energy Transfer during the fourth quarter worth $319,000. Citizens National Bank Trust Department purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $39,000. Concurrent Investment Advisors LLC raised its position in shares of Energy Transfer by 35.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 129,826 shares of the pipeline company’s stock worth $2,543,000 after purchasing an additional 33,723 shares during the last quarter. Hardy Reed LLC lifted its stake in Energy Transfer by 3.7% in the 4th quarter. Hardy Reed LLC now owns 39,840 shares of the pipeline company’s stock valued at $780,000 after buying an additional 1,420 shares in the last quarter. Finally, LMG Wealth Partners LLC acquired a new stake in Energy Transfer in the 4th quarter worth about $1,173,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.7 %

Shares of ET stock opened at $19.98 on Friday. Energy Transfer LP has a twelve month low of $14.52 and a twelve month high of $21.45. The stock has a market cap of $68.54 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.53 and a beta of 1.69. The company’s 50-day moving average price is $19.86 and its 200-day moving average price is $17.87. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.66%. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.51%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Analyst Ratings Changes

A number of brokerages have commented on ET. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays lifted their target price 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. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Company 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.