Fortitude Advisory Group L.L.C. Lowers Stake in Energy Transfer LP (NYSE:ET)

Fortitude Advisory Group L.L.C. lessened its stake in Energy Transfer LP (NYSE:ET) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the pipeline company’s stock after selling 1,239 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Energy Transfer were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new stake in shares of Energy Transfer in the second quarter valued at about $290,000. Sei Investments Co. boosted its position in Energy Transfer by 77.4% during the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after acquiring an additional 20,093 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Energy Transfer by 4.1% during the 2nd quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock worth $1,598,000 after purchasing an additional 3,887 shares during the last quarter. Creative Planning raised its stake in shares of Energy Transfer by 5.7% during the 2nd quarter. Creative Planning now owns 681,018 shares of the pipeline company’s stock worth $11,046,000 after acquiring an additional 36,668 shares in the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter worth $496,000. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ET. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Down 5.9 %

Shares of NYSE ET opened at $19.80 on Tuesday. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company’s 50-day simple moving average is $19.39 and its 200-day simple moving average is $17.36. The firm has a market cap of $67.80 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.37 EPS 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.