Pathway Financial Advisers LLC Reduces Holdings in Energy Transfer LP (NYSE:ET)

Pathway Financial Advisers LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 93.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,283 shares of the pipeline company’s stock after selling 1,249,602 shares during the period. Pathway Financial Advisers LLC’s holdings in Energy Transfer were worth $1,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC increased its holdings in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter valued at $29,000. Financial Life Planners acquired a new position in Energy Transfer in the 4th quarter valued at $37,000. Finally, Continuum Advisory LLC raised its position in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.6 %

Shares of NYSE:ET opened at $19.70 on Thursday. The company has a market capitalization of $67.45 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.52 and a beta of 1.69. The stock’s fifty day simple moving average is $19.75 and its 200-day simple moving average is $17.72. Energy Transfer LP has a 52-week low of $13.95 and a 52-week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.60%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ET shares. 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 increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.18.

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.