Redwood Wealth Management Group LLC Cuts Stock Position in Energy Transfer LP (NYSE:ET)

Redwood Wealth Management Group LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,504 shares of the pipeline company’s stock after selling 4,516 shares during the period. Energy Transfer comprises 1.7% of Redwood Wealth Management Group LLC’s holdings, making the stock its 10th biggest holding. Redwood Wealth Management Group LLC’s holdings in Energy Transfer were worth $3,573,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $29,000. Financial Life Planners purchased a new stake in Energy Transfer in the 4th quarter valued at about $37,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.0 %

NYSE:ET opened at $20.77 on Wednesday. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The firm has a 50 day moving average of $19.63 and a 200 day moving average of $17.54. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $71.10 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during 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%. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.26%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

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

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.