Centurion Wealth Management LLC Lowers Stock Holdings in Energy Transfer LP (NYSE:ET)

Centurion Wealth Management LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,647 shares of the pipeline company’s stock after selling 912 shares during the quarter. Centurion Wealth Management LLC’s holdings in Energy Transfer were worth $209,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ET. Empowered Funds LLC increased its stake in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in Energy Transfer during the fourth quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its holdings in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after acquiring an additional 37,633 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET opened at $18.72 on Monday. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $19.65 and its two-hundred day moving average is $18.19. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors 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. This represents a $1.30 annualized dividend and a yield of 6.95%. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is currently 101.56%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Citigroup boosted their target price on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus raised their price target 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. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer 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.