Sugarloaf Wealth Management LLC Sells 609 Shares of Energy Transfer LP (NYSE:ET)

Sugarloaf Wealth Management LLC trimmed its holdings in Energy Transfer LP (NYSE:ET) by 24.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,863 shares of the pipeline company’s stock after selling 609 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Energy Transfer were worth $36,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in Energy Transfer by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock valued at $1,532,000 after acquiring an additional 23,079 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Energy Transfer in the 2nd quarter valued at about $419,000. National Bank of Canada FI grew its position in Energy Transfer by 5.5% in the second quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 1,500 shares in the last quarter. Choreo LLC increased its stake in Energy Transfer by 172.8% during the second quarter. Choreo LLC now owns 54,722 shares of the pipeline company’s stock worth $895,000 after acquiring an additional 34,664 shares during the last quarter. Finally, LPL Financial LLC raised its position in Energy Transfer by 6.9% during the second quarter. LPL Financial LLC now owns 4,212,788 shares of the pipeline company’s stock valued at $68,331,000 after purchasing an additional 271,435 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. 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 research report on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays upped their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $19.44 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market cap of $66.56 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The firm’s 50 day simple moving average is $18.73 and its 200-day simple moving average is $17.05. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.02.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

About Energy Transfer

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.