Prospect Financial Services LLC Sells 4,553 Shares of Energy Transfer LP (NYSE:ET)

Prospect Financial Services LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,614 shares of the pipeline company’s stock after selling 4,553 shares during the quarter. Energy Transfer accounts for approximately 2.3% of Prospect Financial Services LLC’s portfolio, making the stock its 15th largest position. Prospect Financial Services LLC’s holdings in Energy Transfer were worth $4,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ET. FMR LLC grew its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Energy Transfer by 1,837.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after buying an additional 1,269,778 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ET. 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. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays raised their price target on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Price Performance

ET opened at $19.80 on Tuesday. The stock has a 50-day moving average price of $19.39 and a 200-day moving average price of $17.36. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market cap of $67.80 billion, a PE ratio of 14.56, a P/E/G ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.79 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

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.