Invesco Ltd. Sells 2,179,069 Shares of Energy Transfer LP (NYSE:ET)

Invesco Ltd. lowered its position in shares of Energy Transfer LP (NYSE:ET) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,113,966 shares of the pipeline company’s stock after selling 2,179,069 shares during the period. Invesco Ltd.’s holdings in Energy Transfer were worth $1,099,273,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Bank of Montreal Can grew its position in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. ArchPoint Investors increased its holdings in Energy Transfer by 1.0% in the 4th quarter. ArchPoint Investors now owns 174,238 shares of the pipeline company’s stock worth $3,413,000 after buying an additional 1,668 shares in the last quarter. Cerity Partners LLC lifted its stake in Energy Transfer by 27.2% during the 4th quarter. Cerity Partners LLC now owns 308,587 shares of the pipeline company’s stock valued at $5,866,000 after acquiring an additional 66,056 shares during the period. FMR LLC grew its stake in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in Energy Transfer during the fourth quarter valued at approximately $838,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Down 9.1 %

Shares of NYSE ET opened at $16.12 on Monday. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45. The firm has a 50-day simple moving average of $19.18 and a two-hundred day simple moving average of $18.46. The company has a market cap of $55.30 billion, a P/E ratio of 12.59, a PEG ratio of 0.64 and a beta of 1.32. 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 data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared 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. This represents a $1.30 annualized dividend and a dividend yield of 8.07%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

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.