Pallas Capital Advisors LLC Trims Stake in Energy Transfer LP (NYSE:ET)

Pallas Capital Advisors LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,012 shares of the pipeline company’s stock after selling 2,000 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Energy Transfer were worth $196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC boosted its stake 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 acquiring 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 buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth approximately $29,000. HWG Holdings LP bought a new position in Energy Transfer during the 2nd quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its stake in 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 buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ET. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.6 %

Energy Transfer stock opened at $20.04 on Thursday. The business has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $17.12. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.32. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $68.62 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

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.