North Star Investment Management Corp. lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 94.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,047 shares of the pipeline company’s stock after selling 111,433 shares during the period. North Star Investment Management Corp.’s holdings in Energy Transfer were worth $37,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. NuWave Investment Management LLC raised its holdings in Energy Transfer by 110.3% in the 4th quarter. NuWave Investment Management LLC now owns 44,050 shares of the pipeline company’s stock worth $272,000 after purchasing an additional 23,107 shares in the last quarter. Dimension Capital Management LLC bought a new position in Energy Transfer during the 3rd quarter worth about $35,000. Mercer Global Advisors Inc. ADV grew its holdings in Energy Transfer by 30.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 79,476 shares of the pipeline company’s stock worth $431,000 after acquiring an additional 18,723 shares in the last quarter. Van ECK Associates Corp grew its holdings in Energy Transfer by 33.7% during the 3rd quarter. Van ECK Associates Corp now owns 161,177 shares of the pipeline company’s stock worth $874,000 after acquiring an additional 40,632 shares in the last quarter. Finally, Paces Ferry Wealth Advisors LLC bought a new position in Energy Transfer during the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 34.68% of the company’s stock.

ET opened at $7.24 on Thursday. Energy Transfer LP has a fifty-two week low of $3.75 and a fifty-two week high of $13.70. The business has a 50-day moving average of $6.59 and a 200-day moving average of $6.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.02 and a quick ratio of 0.73. The company has a market capitalization of $19.53 billion, a PE ratio of -72.40 and a beta of 2.61.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 4th. The pipeline company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.52). Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.08 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. On average, equities research analysts expect that Energy Transfer LP will post 0.88 earnings per share for the current fiscal year.

The company also recently declared a dividend, which was paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 16th were paid a dividend of $0.72 per share. This represents a dividend yield of 5.19%. The ex-dividend date of this dividend was Tuesday, December 15th. Energy Transfer’s dividend payout ratio (DPR) is presently 42.07%.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Energy Transfer from a “sell” rating to a “hold” rating in a research report on Thursday, October 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on Energy Transfer in a research note on Thursday, December 3rd. They issued an “outperform” rating for the company. BidaskClub raised Energy Transfer from a “sell” rating to a “hold” rating in a report on Saturday, January 9th. Raymond James reduced their target price on Energy Transfer from $10.00 to $9.00 and set a “strong-buy” rating for the company in a report on Thursday, November 5th. Finally, Piper Sandler reduced their target price on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $10.00.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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