Sonora Investment Management Group LLC Has $1.86 Million Position in Energy Transfer LP (NYSE:ET)

Sonora Investment Management Group LLC cut its position in shares of Energy Transfer LP (NYSE:ET) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,726 shares of the pipeline company’s stock after selling 11,999 shares during the period. Sonora Investment Management Group LLC’s holdings in Energy Transfer were worth $1,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares during the period. Private Client Services LLC grew its stake in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares in the last quarter. Marcum Wealth LLC boosted its position in shares of Energy Transfer by 4.6% during the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 561 shares in the last quarter. Finally, Financial Freedom LLC increased its stake in Energy Transfer by 26.8% in the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays boosted 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. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

ET opened at $21.12 on Friday. The firm has a market cap of $72.30 billion, a P/E ratio of 15.53, a PEG ratio of 0.54 and a beta of 1.70. 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 fifty-two week low of $13.79 and a fifty-two week high of $21.45. The firm has a 50-day moving average of $19.52 and a 200 day moving average of $17.44.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts expect that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.16%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.