Howard Capital Management Inc. Reduces Stake in Energy Transfer LP (NYSE:ET)

Howard Capital Management Inc. reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 25.7% during the 4th quarter, HoldingsChannel reports. The fund owned 33,502 shares of the pipeline company’s stock after selling 11,612 shares during the period. Howard Capital Management Inc.’s holdings in Energy Transfer were worth $656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. lifted its holdings 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 worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $29,000. Financial Life Planners purchased a new position in shares of Energy Transfer during the 4th quarter worth about $37,000. Finally, Citizens National Bank Trust Department bought a new position in Energy Transfer during the 4th quarter valued at about $39,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ET shares. 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 report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target 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. Finally, Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer Stock Performance

ET stock opened at $18.96 on Tuesday. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. The business has a 50-day moving average price of $19.88 and a 200 day moving average price of $17.95. The company has a market capitalization of $65.04 billion, a P/E ratio of 14.81, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS 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 11.56%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.86%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Energy Transfer 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.