49 Wealth Management LLC Sells 2,777 Shares of Energy Transfer LP (NYSE:ET)

49 Wealth Management LLC cut its stake in Energy Transfer LP (NYSE:ET) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,022 shares of the pipeline company’s stock after selling 2,777 shares during the quarter. 49 Wealth Management LLC’s holdings in Energy Transfer were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Stonegate Investment Group LLC boosted its holdings in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares during the last quarter. Cannell & Spears LLC boosted its holdings in shares of Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after buying an additional 546 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares during the last quarter. Finally, Platform Technology Partners boosted its holdings in shares of Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after buying an additional 553 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

ET stock opened at $17.77 on Thursday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company’s fifty day moving average price is $17.45 and its 200-day moving average price is $18.58. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market capitalization of $60.96 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last released its 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 net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 7.37%. The ex-dividend date was Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 99.24%.

Analyst Ratings Changes

ET has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Mizuho raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

About Energy Transfer

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.