Sugarloaf Wealth Management LLC Lowers Stock Holdings in Energy Transfer LP (NYSE:ET)

Sugarloaf Wealth Management LLC reduced its position in Energy Transfer LP (NYSE:ET) by 24.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,863 shares of the pipeline company’s stock after selling 609 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Energy Transfer were worth $36,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at about $29,000. Princeton Global Asset Management LLC grew its position in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new position in shares of Energy Transfer in the second quarter worth approximately $33,000. Finally, Continuum Advisory LLC increased its stake in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of a number of analyst reports. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. 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 report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Down 1.5 %

ET stock opened at $19.44 on Friday. The business has a 50 day moving average of $18.73 and a 200 day moving average of $17.05. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.60 and a twelve month high of $20.02. The firm has a market cap of $66.56 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.32 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. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.64%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.