Morningstar Investment Management LLC Has $4.27 Million Holdings in Energy Transfer LP (NYSE:ET)

Morningstar Investment Management LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 26.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 218,192 shares of the pipeline company’s stock after selling 80,034 shares during the period. Energy Transfer accounts for about 0.3% of Morningstar Investment Management LLC’s portfolio, making the stock its 29th biggest position. Morningstar Investment Management LLC’s holdings in Energy Transfer were worth $4,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter valued at about $29,000. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. Financial Life Planners bought a new position in Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new position in Energy Transfer during the fourth quarter valued at approximately $41,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

Shares of ET opened at $20.14 on Thursday. The stock has a market capitalization of $68.94 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 12 month low of $14.52 and a 12 month high of $21.45. The firm has a fifty day simple moving average of $19.85 and a 200 day simple moving average of $17.86. 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 (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.66%. Research analysts forecast that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.46%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.18.

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.