Energy Transfer LP (NYSE:ET) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC trimmed its stake in Energy Transfer LP (NYSE:ET) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,547 shares of the pipeline company’s stock after selling 800 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Energy Transfer were worth $971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC boosted its position in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Energy Transfer by 4.0% in 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 purchasing an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC grew its position in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.48 on Monday. The company’s fifty day simple moving average is $19.81 and its 200-day simple moving average is $18.12. 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 52 week low of $14.87 and a 52 week high of $21.45. The company has a market cap of $59.97 billion, a PE ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Energy Transfer Company 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.