Energy Transfer LP (NYSE:ET) Stock Holdings Trimmed by Lindbrook Capital LLC

Lindbrook Capital LLC reduced its position in Energy Transfer LP (NYSE:ET) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,966 shares of the pipeline company’s stock after selling 10,984 shares during the quarter. Lindbrook Capital LLC’s holdings in Energy Transfer were worth $2,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Energy Transfer in the fourth quarter valued at about $29,000. Assetmark Inc. grew 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 valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. Financial Life Planners bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $41,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ET shares. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped 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. Stifel Nicolaus upped their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Performance

ET opened at $18.21 on Thursday. The company has a market capitalization of $62.47 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer LP has a 1-year low of $14.87 and a 1-year high of $21.45. The business has a 50 day moving average price of $19.87 and a two-hundred day moving average price of $18.08.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.14%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

Energy Transfer Company 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.