Energy Transfer LP (NYSE:ET) Shares Sold by Cwm LLC

Cwm LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 27.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,131 shares of the pipeline company’s stock after selling 16,853 shares during the period. Cwm LLC’s holdings in Energy Transfer were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Activest Wealth Management grew its stake in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 736 shares during the last quarter. Veracity Capital LLC grew its stake in Energy Transfer by 2.3% during the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock valued at $444,000 after purchasing an additional 738 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 776 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.9% during the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock valued at $592,000 after purchasing an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group lowered their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Mizuho restated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Stock Performance

NYSE ET opened at $15.73 on Wednesday. The stock has a market capitalization of $53.00 billion, a price-to-earnings ratio of 14.43 and a beta of 1.64. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $15.41 and a 200 day moving average of $14.36.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.57 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 115.60%.

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.