Selway Asset Management Sells 3,000 Shares of Energy Transfer LP (NYSE:ET)

Selway Asset Management lowered its stake in Energy Transfer LP (NYSE:ET) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,000 shares of the pipeline company’s stock after selling 3,000 shares during the period. Energy Transfer accounts for approximately 1.3% of Selway Asset Management’s holdings, making the stock its 27th biggest holding. Selway Asset Management’s holdings in Energy Transfer were worth $3,213,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Energy Transfer by 57.0% during the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock valued at $348,000 after buying an additional 7,870 shares during the period. Chevy Chase Trust Holdings LLC boosted its position in Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company’s stock valued at $837,000 after acquiring an additional 1,486 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Energy Transfer by 340.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company’s stock worth $1,034,000 after acquiring an additional 49,802 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Energy Transfer by 15.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company’s stock worth $2,314,000 after acquiring an additional 19,669 shares in the last quarter. Finally, Philosophy Capital Management LLC lifted its stake in shares of Energy Transfer by 0.9% in the 3rd quarter. Philosophy Capital Management LLC now owns 2,759,085 shares of the pipeline company’s stock valued at $44,283,000 after purchasing an additional 24,768 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

ET stock opened at $18.92 on Thursday. The stock’s 50 day simple moving average is $19.34 and its 200 day simple moving average is $18.43. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The stock has a market capitalization of $64.92 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.87%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ET. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. The Goldman Sachs Group raised their target price 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. Finally, Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

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.