Heronetta Management L.P. Lowers Stock Position in Energy Transfer LP (NYSE:ET)

Heronetta Management L.P. cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 884,654 shares of the pipeline company’s stock after selling 6,900 shares during the quarter. Energy Transfer accounts for 11.2% of Heronetta Management L.P.’s holdings, making the stock its 2nd largest position. Heronetta Management L.P.’s holdings in Energy Transfer were worth $17,330,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ET. Stonegate Investment Group LLC increased its stake in Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 482 shares during the last quarter. Private Client Services LLC increased its stake in Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after acquiring an additional 535 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares during the last quarter. Finally, Platform Technology Partners increased its stake in Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after acquiring an additional 553 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of 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 lifted their price objective on shares of 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 raised 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. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.21 on Thursday. The firm has a market cap of $62.47 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The firm’s fifty day moving average is $19.87 and its 200-day moving average is $18.08. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52 week low of $14.87 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last issued 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 return on equity of 11.56% and a net margin of 5.74%. Sell-side 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 declared 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 represents a $1.30 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

Energy Transfer 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.