Fiduciary Financial Group LLC Trims Position in Energy Transfer LP (NYSE:ET)

Fiduciary Financial Group LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 5.3% during the 1st quarter, Holdings Channel reports. The fund owned 22,785 shares of the pipeline company’s stock after selling 1,264 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Energy Transfer were worth $424,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $29,000. United Community Bank acquired a new position in Energy Transfer in the 4th quarter valued at about $35,000. Finally, Tortoise Investment Management LLC grew its position in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Mizuho boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Price Performance

Energy Transfer stock opened at $17.71 on Tuesday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The business has a 50 day simple moving average of $17.17 and a 200-day simple moving average of $18.61. The stock has a market capitalization of $60.78 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.40%. Energy Transfer’s dividend payout ratio is presently 99.24%.

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.