Centaurus Financial Inc. Has $305,000 Stake in Energy Transfer LP (NYSE:ET)

Centaurus Financial Inc. decreased its stake in shares of Energy Transfer LP (NYSE:ET) by 52.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,995 shares of the pipeline company’s stock after selling 20,746 shares during the quarter. Centaurus Financial Inc.’s holdings in Energy Transfer were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ET. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Energy Transfer by 7.9% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock worth $117,061,000 after purchasing an additional 536,047 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ET shares. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.40 on Thursday. The stock has a market cap of $66.42 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $19.71. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $16.25.

Energy Transfer (NYSE:ET) last released 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 analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. As a group, analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 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.