Redhawk Wealth Advisors Inc. Sells 11,683 Shares of Energy Transfer LP (NYSE:ET)

Redhawk Wealth Advisors Inc. reduced its position in shares of Energy Transfer LP (NYSE:ET) by 33.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,591 shares of the pipeline company’s stock after selling 11,683 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Energy Transfer were worth $462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC boosted its holdings 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 worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $20.24 on Friday. The firm has a market cap of $69.28 billion, a PE ratio of 14.88, a PEG ratio of 0.57 and a beta of 1.70. The stock has a 50 day moving average of $18.90 and a 200 day moving average of $17.14. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.60 and a 12 month high of $20.32.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.38%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

A number of brokerages have commented on ET. Royal Bank of Canada upped 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. The Goldman Sachs Group lifted their price target 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. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.82.

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.