International Assets Investment Management LLC Has $5.13 Million Stock Position in Energy Transfer LP (NYSE:ET)

International Assets Investment Management LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 93.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 260,494 shares of the pipeline company’s stock after selling 3,915,237 shares during the period. International Assets Investment Management LLC’s holdings in Energy Transfer were worth $5,134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Energy Transfer by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after purchasing an additional 23,079 shares in the last quarter. Natixis Advisors LLC acquired a new position in shares of Energy Transfer during the second quarter valued at about $419,000. National Bank of Canada FI increased its position in shares of Energy Transfer by 5.5% during the second quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 1,500 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Energy Transfer by 1,610.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 722,096 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 679,872 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in Energy Transfer by 28.5% in the 2nd quarter. Wedbush Securities Inc. now owns 87,942 shares of the pipeline company’s stock valued at $1,426,000 after acquiring an additional 19,528 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ET shares. Barclays increased their price objective on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Price Performance

ET traded up $0.04 on Wednesday, reaching $19.53. The company had a trading volume of 1,810,065 shares, compared to its average volume of 12,346,688. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.02. The business has a 50 day simple moving average of $18.54 and a 200 day simple moving average of $16.99. The company has a market cap of $66.87 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.61%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.