Energy Transfer LP $ET Position Cut by Harbour Investments Inc.

Harbour Investments Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET) by 19.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,697 shares of the pipeline company’s stock after selling 31,243 shares during the quarter. Harbour Investments Inc.’s holdings in Energy Transfer were worth $2,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. grew its holdings in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC grew its holdings in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares in the last quarter. SP Asset Management LLC grew its holdings in Energy Transfer by 2.0% in the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after buying an additional 589 shares in the last quarter. Gables Capital Management Inc. grew its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in Energy Transfer by 2.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 607 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Morgan Stanley increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Performance

ET opened at $19.42 on Friday. The firm has a market cap of $66.83 billion, a PE ratio of 16.18, a P/E/G ratio of 1.16 and a beta of 0.57. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $19.43 and a 200-day simple moving average of $18.15. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 112.50%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.