Tcfg Wealth Management LLC Reduces Stock Holdings in Energy Transfer LP (NYSE:ET)

Tcfg Wealth Management LLC lowered its position in Energy Transfer LP (NYSE:ET) by 55.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,119 shares of the pipeline company’s stock after selling 15,101 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Energy Transfer were worth $237,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $29,000. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. grew its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. Financial Life Planners purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Finally, Golden State Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ET. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Up 0.8 %

Shares of ET opened at $19.98 on Friday. The stock has a market capitalization of $68.42 billion, a PE ratio of 14.69, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 1 year low of $14.09 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company’s 50-day simple moving average is $19.78 and its 200-day simple moving average is $17.76.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.51%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.