Energy Transfer LP (NYSE:ET) is Beach Investment Counsel Inc. PA’s 2nd Largest Position

Beach Investment Counsel Inc. PA cut its stake in Energy Transfer LP (NYSE:ET) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,750,952 shares of the pipeline company’s stock after selling 116,513 shares during the quarter. Energy Transfer comprises about 7.3% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 2nd biggest holding. Beach Investment Counsel Inc. PA owned about 0.08% of Energy Transfer worth $53,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ET. Empowered Funds LLC raised its position in shares of Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Finally, Paragon Capital Management Ltd boosted its holdings in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ET shares. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.84 on Tuesday. Energy Transfer LP has a 1 year low of $13.79 and a 1 year high of $21.45. The firm has a market capitalization of $71.34 billion, a PE ratio of 15.31, a P/E/G ratio of 0.54 and a beta of 1.69. The business’s 50 day moving average price is $19.59 and its 200-day moving average price is $17.51. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.24%. Energy Transfer’s dividend payout ratio (DPR) 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.