Transcend Capital Advisors LLC Sells 25,351 Shares of Energy Transfer LP (NYSE:ET)

Transcend Capital Advisors LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 22.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 85,429 shares of the pipeline company’s stock after selling 25,351 shares during the period. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,674,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ET. PYA Waltman Capital LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $764,000. O Brien Greene & Co. Inc purchased a new stake in Energy Transfer in the 4th quarter worth $319,000. Citizens National Bank Trust Department purchased a new stake in Energy Transfer in the 4th quarter worth $39,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Energy Transfer by 35.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 129,826 shares of the pipeline company’s stock valued at $2,543,000 after purchasing an additional 33,723 shares during the last quarter. Finally, Hardy Reed LLC grew its position in shares of Energy Transfer by 3.7% during the fourth quarter. Hardy Reed LLC now owns 39,840 shares of the pipeline company’s stock valued at $780,000 after purchasing an additional 1,420 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 2.7 %

NYSE ET opened at $19.40 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69. The company has a fifty day moving average of $19.87 and a two-hundred day moving average of $17.90.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced 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 is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. Energy Transfer’s dividend payout ratio is currently 101.56%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus raised 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. Wells Fargo & Company boosted their price target 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, The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.