West Michigan Advisors LLC Reduces Stake in Energy Transfer LP (NYSE:ET)

West Michigan Advisors LLC lessened its position in shares of Energy Transfer LP (NYSE:ET) by 38.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,339 shares of the pipeline company’s stock after selling 7,578 shares during the quarter. West Michigan Advisors LLC’s holdings in Energy Transfer were worth $242,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $29,000. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% during 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 in the last quarter. Financial Life Planners bought a new stake in Energy Transfer during the fourth quarter valued at about $37,000. Finally, Citizens National Bank Trust Department purchased a new stake in Energy Transfer in the fourth quarter worth about $39,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 2.0 %

ET opened at $19.32 on Friday. The company has a market capitalization of $66.27 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The firm has a 50-day simple moving average of $19.92 and a two-hundred day simple moving average of $18.03. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

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%. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. 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. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.73%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Citigroup lifted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, 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 note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.55.

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.