Energy Transfer LP (NYSE:ET) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,547 shares of the pipeline company’s stock after selling 800 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Energy Transfer were worth $971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ET. Assetmark Inc. increased 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 valued at $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter worth $29,000. United Community Bank acquired a new position in Energy Transfer in the fourth quarter valued at $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $17.48 on Monday. 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 $14.87 and a 52-week high of $21.45. The company has a 50-day simple moving average of $19.81 and a 200-day simple moving average of $18.12. The company has a market capitalization of $59.97 billion, a PE ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results 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%. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.44%. Energy Transfer’s dividend payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Citigroup boosted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.55.

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.