International Assets Investment Management LLC Has $5.13 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

International Assets Investment Management LLC cut its position in Energy Transfer LP (NYSE:ET) by 93.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,494 shares of the pipeline company’s stock after selling 3,915,237 shares during the period. International Assets Investment Management LLC’s holdings in Energy Transfer were worth $5,134,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC raised its stake in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares during the period. Fortem Financial Group LLC grew its position in shares of Energy Transfer by 2.8% in the 4th quarter. Fortem Financial Group LLC now owns 205,872 shares of the pipeline company’s stock valued at $4,033,000 after purchasing an additional 5,566 shares during the period. Kozak & Associates Inc. increased its stake in Energy Transfer by 69.6% during the 4th quarter. Kozak & Associates Inc. now owns 5,117 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 2,100 shares in the last quarter. Capital Market Strategies LLC raised its holdings in Energy Transfer by 4.5% during the 4th quarter. Capital Market Strategies LLC now owns 23,455 shares of the pipeline company’s stock worth $459,000 after buying an additional 1,000 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in Energy Transfer by 99.6% in the fourth quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company’s stock valued at $913,000 after buying an additional 23,249 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays lifted their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Energy Transfer Stock Performance

NYSE:ET traded up $0.04 during mid-day trading on Wednesday, reaching $19.53. 1,810,065 shares of the company’s stock were exchanged, compared to its average volume of 12,346,688. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market capitalization of $66.87 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.02. The business’s fifty day simple moving average is $18.54 and its two-hundred day simple moving average is $16.99.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.61%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.