Energy Transfer LP $ET Shares Sold by Forum Financial Management LP

Forum Financial Management LP decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 401,906 shares of the pipeline company’s stock after selling 29,042 shares during the period. Forum Financial Management LP’s holdings in Energy Transfer were worth $7,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 8,118 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares during the period. Russell Investments Group Ltd. raised its holdings in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ET. Wells Fargo & Company lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. TD Cowen reissued a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Stifel Nicolaus lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Citigroup reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Down 0.6%

ET stock opened at $19.06 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $19.44 and its 200 day moving average price is $18.53. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The company has a market cap of $65.60 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.11 and a beta of 0.55.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same period last year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 32.1% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.