Energy Transfer LP $ET Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lessened its stake in Energy Transfer LP (NYSE:ET) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 197,917 shares of the pipeline company’s stock after selling 56,188 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Energy Transfer were worth $3,264,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in Energy Transfer in the 3rd quarter valued at about $34,000. Navalign LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $37,000. Core Alternative Capital acquired a new position in Energy Transfer in the 3rd quarter valued at about $46,000. Global Wealth Strategies & Associates increased its position in Energy Transfer by 196.4% in the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 1,964 shares during the period. Finally, Golden State Wealth Management LLC increased its position in Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after acquiring an additional 817 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ET. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Barclays reiterated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Wells Fargo & Company boosted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $22.73.

Energy Transfer Stock Performance

NYSE ET opened at $20.09 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 business’s 50 day moving average is $19.38 and its two-hundred day moving average is $18.10. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The stock has a market capitalization of $69.14 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts expect that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 6.7%. Energy Transfer’s dividend payout ratio is presently 112.50%.

About Energy Transfer

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.