Bourgeon Capital Management LLC Sells 40,325 Shares of Energy Transfer LP (NYSE:ET)

Bourgeon Capital Management LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 37.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,170 shares of the pipeline company’s stock after selling 40,325 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Energy Transfer were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Hsbc Holdings PLC purchased a new position in Energy Transfer during the second quarter worth about $290,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Energy Transfer by 31.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock worth $132,000 after purchasing an additional 1,963 shares in the last quarter. AE Wealth Management LLC increased its position in shares of Energy Transfer by 22.6% in the second quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock worth $1,447,000 after purchasing an additional 16,445 shares during the last quarter. Sei Investments Co. raised its stake in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after purchasing an additional 20,093 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Energy Transfer by 13.2% during the second quarter. EverSource Wealth Advisors LLC now owns 16,027 shares of the pipeline company’s stock valued at $261,000 after purchasing an additional 1,874 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Bank of America started 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. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 3.0 %

Energy Transfer stock opened at $20.90 on Wednesday. The firm has a market cap of $71.54 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.53 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.78 and a 12 month high of $21.02. The stock has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $17.23.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is currently 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.