Holderness Investments Co. Reduces Stock Position in Energy Transfer LP (NYSE:ET)

Holderness Investments Co. lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,722 shares of the pipeline company’s stock after selling 1,236 shares during the quarter. Holderness Investments Co.’s holdings in Energy Transfer were worth $1,111,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in Energy Transfer by 57.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock valued at $348,000 after purchasing an additional 7,870 shares in the last quarter. Avior Wealth Management LLC raised its position in Energy Transfer by 45.5% during the 3rd quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company’s stock valued at $977,000 after purchasing an additional 19,045 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Energy Transfer during the 3rd quarter valued at $2,656,000. Strategy Asset Managers LLC bought a new stake in Energy Transfer during the 3rd quarter valued at $299,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Energy Transfer during the 3rd quarter valued at $396,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.6 %

Shares of NYSE:ET opened at $18.83 on Friday. The business’s 50-day moving average is $19.59 and its 200 day moving average is $18.24. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45. The firm has a market capitalization of $64.62 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, 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 declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.90%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Ratings Changes

ET has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted 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 analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $21.55.

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.