Van Cleef Asset Management Inc Sells 2,620 Shares of Energy Transfer LP (NYSE:ET)

Van Cleef Asset Management Inc reduced its position in Energy Transfer LP (NYSE:ET) by 13.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,090 shares of the pipeline company’s stock after selling 2,620 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Energy Transfer were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the third 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 in the last quarter. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% in the 3rd 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 last quarter. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter valued at about $29,000. Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Energy Transfer in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ET shares. Citigroup lifted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of 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 increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Down 1.1 %

Shares of NYSE ET opened at $18.94 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market cap of $65.00 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45. The business has a 50-day simple moving average of $19.91 and a two-hundred day simple moving average of $17.99.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts anticipate that Energy Transfer LP will post 1.46 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, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.86%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.