Fisher Asset Management LLC Sells 2,215 Shares of Energy Transfer LP (NYSE:ET)

Fisher Asset Management LLC trimmed its holdings in Energy Transfer LP (NYSE:ET) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,075 shares of the pipeline company’s stock after selling 2,215 shares during the period. Fisher Asset Management LLC’s holdings in Energy Transfer were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 2.3 %

Shares of NYSE ET opened at $19.86 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $68.00 billion, a PE ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 1.66. Energy Transfer LP has a one year low of $13.11 and a one year high of $20.02. The business’s fifty day moving average price is $16.99 and its 200-day moving average price is $16.30.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.50%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.00.

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.