VELA Investment Management LLC Has $555,000 Stock Position in Energy Transfer LP (NYSE:ET)

VELA Investment Management LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 68.7% in the fourth quarter, HoldingsChannel reports. The fund owned 28,307 shares of the pipeline company’s stock after selling 62,100 shares during the period. VELA Investment Management LLC’s holdings in Energy Transfer were worth $555,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after buying an additional 37,633 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ET shares. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Citigroup increased their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. 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 analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Down 1.1 %

ET stock opened at $18.94 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $65.00 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.64 and a beta of 1.69. The business’s fifty day moving average price is $19.91 and its two-hundred day moving average price is $17.99. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced 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. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

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.