Energy Transfer LP $ET Stock Position Decreased by Harbour Investments Inc.

Harbour Investments Inc. cut its stake in shares of Energy Transfer LP (NYSE:ET) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 129,697 shares of the pipeline company’s stock after selling 31,243 shares during the quarter. Harbour Investments Inc.’s holdings in Energy Transfer were worth $2,139,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Gables Capital Management Inc. boosted its position in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the period. Financial Life Planners acquired a new stake in shares of Energy Transfer in the third quarter worth $34,000. Navalign LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $37,000. Tucker Asset Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $47,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Energy Transfer in the third quarter worth $50,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.5%

ET opened at $19.42 on Friday. The company has a market capitalization of $66.83 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The business has a 50-day moving average of $19.43 and a 200-day moving average of $18.15.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.3375 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is presently 112.50%.

Analysts Set New Price Targets

Several analysts have recently commented on ET shares. Wells Fargo & Company raised their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. TD Cowen reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Barclays reaffirmed an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Stifel Nicolaus raised their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $23.45.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.