Turtle Creek Wealth Advisors LLC Cuts Stake in Energy Transfer LP (NYSE:ET)

Turtle Creek Wealth Advisors LLC reduced its position in Energy Transfer LP (NYSE:ET) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 149,838 shares of the pipeline company’s stock after selling 994 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Energy Transfer were worth $2,935,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ET. FMR LLC grew its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after buying an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after buying an additional 1,269,778 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 2.8 %

Shares of Energy Transfer stock opened at $21.12 on Friday. The firm has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $17.46. The company has a market cap of $72.30 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.54 and a beta of 1.70. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

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

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.