ACT Wealth Management LLC Sells 570 Shares of Energy Transfer LP (NYSE:ET)

ACT Wealth Management LLC lowered its position in Energy Transfer LP (NYSE:ET) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,970 shares of the pipeline company’s stock after selling 570 shares during the period. Energy Transfer comprises 0.2% of ACT Wealth Management LLC’s holdings, making the stock its 29th largest position. ACT Wealth Management LLC’s holdings in Energy Transfer were worth $391,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Energy Transfer in the fourth quarter valued at approximately $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. raised 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 worth $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in Energy Transfer in the 2nd quarter valued at $33,000. Finally, Continuum Advisory LLC boosted its stake in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $20.90 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company’s fifty day simple moving average is $19.08 and its 200 day simple moving average is $17.23. Energy Transfer LP has a 1-year low of $13.78 and a 1-year high of $21.02. The company has a market cap of $71.54 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.53 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.17%. Energy Transfer’s dividend payout ratio is 94.85%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ET shares. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.82.

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.