Ninepoint Partners LP Sells 13,230 Shares of Energy Transfer LP (NYSE:ET)

Ninepoint Partners LP reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,215 shares of the pipeline company’s stock after selling 13,230 shares during the period. Ninepoint Partners LP’s holdings in Energy Transfer were worth $1,052,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in shares of Energy Transfer by 109,332.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after acquiring an additional 145,810,023 shares in the last quarter. Morgan Stanley raised its position in shares of Energy Transfer by 20.9% in the 4th quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after acquiring an additional 13,220,435 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after acquiring an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after acquiring an additional 7,097,074 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Energy Transfer by 3.9% in the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock valued at $354,599,000 after buying an additional 953,251 shares during the period. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup raised their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho restated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday. Finally, UBS Group cut their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Stock Performance

Shares of NYSE:ET traded up $0.41 during mid-day trading on Friday, reaching $15.94. The company had a trading volume of 8,640,452 shares, compared to its average volume of 12,447,738. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The firm has a market cap of $53.71 billion, a price-to-earnings ratio of 14.51 and a beta of 1.64. The company’s 50-day moving average price is $15.16 and its 200-day moving average price is $14.23. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. Energy Transfer’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.315 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 7.90%. Energy Transfer’s payout ratio is presently 115.60%.

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.