Kaizen Financial Strategies Sells 1,096 Shares of Energy Transfer LP (NYSE:ET)

Kaizen Financial Strategies reduced its position in shares of Energy Transfer LP (NYSE:ET) by 8.5% in the fourth quarter, Holdings Channel reports. The fund owned 11,866 shares of the pipeline company’s stock after selling 1,096 shares during the quarter. Kaizen Financial Strategies’ holdings in Energy Transfer were worth $232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at about $29,000. ORG Partners LLC raised its position in Energy Transfer by 2.5% during the fourth quarter. ORG Partners LLC now owns 29,340 shares of the pipeline company’s stock valued at $575,000 after purchasing an additional 715 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Energy Transfer by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 742,147 shares of the pipeline company’s stock valued at $14,539,000 after purchasing an additional 23,324 shares during the last quarter. HBW Advisory Services LLC increased its position in shares of Energy Transfer by 8.6% during the 4th quarter. HBW Advisory Services LLC now owns 27,658 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Winthrop Advisory Group LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $245,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays lifted 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, January 13th. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

NYSE ET opened at $17.22 on Friday. The company has a market cap of $59.09 billion, a PE ratio of 13.45, a P/E/G ratio of 0.64 and a beta of 0.77. The firm’s 50 day moving average price is $17.46 and its 200-day moving average price is $18.51. 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 $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. The ex-dividend date is Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.61%. Energy Transfer’s payout ratio is currently 99.24%.

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.