EP Wealth Advisors LLC Sells 8,167 Shares of Energy Transfer LP (NYSE:ET)

EP Wealth Advisors LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,326 shares of the pipeline company’s stock after selling 8,167 shares during the period. EP Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. FMR LLC increased its holdings in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. Natixis lifted its stake in shares of Energy Transfer by 7.1% during the fourth quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after acquiring an additional 962,800 shares during the period. BROOKFIELD Corp ON boosted its holdings in Energy Transfer by 4.6% in the fourth quarter. BROOKFIELD Corp ON now owns 13,750,386 shares of the pipeline company’s stock valued at $269,370,000 after acquiring an additional 610,462 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ET. Stifel Nicolaus raised their target price 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. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Citigroup restated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Price Performance

NYSE ET opened at $17.22 on Friday. 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 market cap of $59.09 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.64 and a beta of 0.77. The business has a 50 day simple moving average of $17.46 and a 200 day simple moving average of $18.51. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. 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 will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be issued a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.61%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer’s payout ratio is 99.24%.

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.