Energy Transfer LP (NYSE:ET) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC decreased its holdings in Energy Transfer LP (NYSE:ETFree Report) by 59.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,558 shares of the pipeline company’s stock after selling 38,999 shares during the period. Teamwork Financial Advisors LLC’s holdings in Energy Transfer were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in Energy Transfer in the 2nd quarter valued at about $290,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Energy Transfer by 31.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock valued at $132,000 after buying an additional 1,963 shares during the period. AE Wealth Management LLC lifted its holdings in Energy Transfer by 22.6% in the second quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock valued at $1,447,000 after acquiring an additional 16,445 shares during the last quarter. Sei Investments Co. grew its position in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after acquiring an additional 20,093 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Energy Transfer by 13.2% during the second quarter. EverSource Wealth Advisors LLC now owns 16,027 shares of the pipeline company’s stock worth $261,000 after acquiring an additional 1,874 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Check Out Our Latest Stock Report on ET

Energy Transfer Stock Performance

NYSE:ET opened at $20.94 on Thursday. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a fifty day simple moving average of $19.23 and a two-hundred day simple moving average of $17.28.

Energy Transfer (NYSE:ETGet Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.16%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Energy Transfer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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