Energy Transfer LP (NYSE:ET) Holdings Decreased by Granby Capital Management LLC

Granby Capital Management LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the pipeline company’s stock after selling 100,000 shares during the period. Energy Transfer comprises about 3.0% of Granby Capital Management LLC’s holdings, making the stock its 9th largest holding. Granby Capital Management LLC’s holdings in Energy Transfer were worth $5,877,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $1,297,000. Forvis Mazars Wealth Advisors LLC increased its position in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after purchasing an additional 37,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Energy Transfer by 44.2% during the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company’s stock valued at $2,650,000 after buying an additional 41,438 shares during the last quarter. Finally, Paragon Capital Management Ltd grew its stake in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after buying an additional 55,890 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ET shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Trading Down 0.9 %

Energy Transfer stock opened at $17.22 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. 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 firm has a market capitalization of $59.09 billion, a PE ratio of 13.45, a PEG ratio of 0.64 and a beta of 0.77. The business’s 50-day simple moving average is $17.46 and its 200-day simple moving average is $18.50.

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

Energy Transfer Increases Dividend

The business also recently declared 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 of this dividend 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 dividend payout ratio is 102.34%.

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.