Poplar Forest Capital LLC Sells 1,000 Shares of Energy Transfer LP (NYSE:ET)

Poplar Forest Capital LLC decreased its holdings in Energy Transfer LP (NYSE:ET) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,450 shares of the pipeline company’s stock after selling 1,000 shares during the quarter. Poplar Forest Capital LLC’s holdings in Energy Transfer were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Energy Transfer in the fourth quarter valued at approximately $29,000. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in 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 last quarter. Assetmark Inc. grew its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. Financial Life Planners acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $37,000. Finally, Citizens National Bank Trust Department acquired a new stake in Energy Transfer during the fourth quarter worth approximately $39,000. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ET. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. 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 research report on Monday, December 9th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Up 2.0 %

Shares of ET opened at $19.32 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The stock has a market capitalization of $66.27 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a fifty day moving average of $19.92 and a 200-day moving average of $18.01.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.73%. This is a boost 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%.

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.