Pointe Capital Management LLC Decreases Position in Energy Transfer LP (NYSE:ET)

Pointe Capital Management LLC decreased its holdings in Energy Transfer LP (NYSE:ET) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,138 shares of the pipeline company’s stock after selling 10,472 shares during the period. Pointe Capital Management LLC’s holdings in Energy Transfer were worth $904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Princeton Global Asset Management LLC raised its holdings in 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 acquiring an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings 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 valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth $29,000. Financial Life Planners acquired a new position in shares of Energy Transfer during the fourth quarter worth $37,000. Finally, Citizens National Bank Trust Department acquired a new stake in Energy Transfer in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.2 %

Shares of Energy Transfer stock opened at $18.94 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market capitalization of $64.97 billion, a P/E ratio of 14.79, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1 year low of $14.52 and a 1 year high of $21.45. The company’s fifty day moving average is $19.88 and its two-hundred day moving average is $17.97.

Energy Transfer (NYSE:ET) last announced 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 return on equity of 11.56% and a net margin of 5.74%. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.87%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ET shares. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Citigroup upped their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada increased 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. One equities research 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 an average rating of “Moderate Buy” and an average target price of $21.55.

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.