Custom Index Systems LLC Sells 2,561 Shares of Energy Transfer LP (NYSE:ET)

Custom Index Systems LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,623 shares of the pipeline company’s stock after selling 2,561 shares during the period. Custom Index Systems LLC’s holdings in Energy Transfer were worth $1,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% during the 3rd 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 position in Energy Transfer by 2,138.5% in 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. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at about $29,000. Sugarloaf Wealth Management LLC grew its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the period. Finally, Continuum Advisory LLC increased its stake in shares of Energy Transfer by 44.8% during 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 last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

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

Energy Transfer Trading Down 2.9 %

Shares of Energy Transfer stock opened at $20.47 on Friday. The company’s 50-day moving average price is $19.57 and its 200-day moving average price is $17.46. The company has a market cap of $70.08 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.54 and a beta of 1.70. Energy Transfer LP has a 12-month low of $13.79 and a 12-month high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.35%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s payout ratio is presently 95.59%.

Energy Transfer Company Profile

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.