Lifestyle Asset Management Inc. Sells 10,753 Shares of Energy Transfer LP (NYSE:ET)

Lifestyle Asset Management Inc. reduced its position in shares of Energy Transfer LP (NYSE:ET) by 23.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 35,782 shares of the pipeline company’s stock after selling 10,753 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Energy Transfer were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Client Services LLC increased its holdings in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after purchasing an additional 547 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 561 shares during the last quarter. Financial Freedom LLC increased its holdings in shares of Energy Transfer by 26.8% in the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 614 shares during the last quarter. Finally, Fortis Capital Management LLC grew its stake in shares of Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ET. Wells Fargo & Company upped their price target 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. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.7 %

ET stock opened at $21.07 on Friday. The stock has a market capitalization of $72.14 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. The firm has a 50-day moving average price of $19.23 and a 200-day moving average price of $17.28.

Energy Transfer (NYSE:ET) last posted 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 firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.12%. Energy Transfer’s dividend payout ratio (DPR) is currently 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.