PDS Planning Inc Sells 1,799 Shares of Energy Transfer LP (NYSE:ET)

PDS Planning Inc decreased its stake in shares of Energy Transfer LP (NYSE:ET) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,063 shares of the pipeline company’s stock after selling 1,799 shares during the period. PDS Planning Inc’s holdings in Energy Transfer were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Horizon Kinetics Asset Management LLC increased its holdings in Energy Transfer by 3.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 311,724 shares of the pipeline company’s stock valued at $6,107,000 after buying an additional 10,455 shares during the last quarter. Signaturefd LLC increased its holdings in Energy Transfer by 7.8% during the fourth quarter. Signaturefd LLC now owns 29,564 shares of the pipeline company’s stock valued at $579,000 after buying an additional 2,145 shares during the last quarter. Parallel Advisors LLC increased its holdings in Energy Transfer by 26.0% during the fourth quarter. Parallel Advisors LLC now owns 19,990 shares of the pipeline company’s stock valued at $392,000 after buying an additional 4,126 shares during the last quarter. Gray Wealth Management Inc. increased its holdings in Energy Transfer by 43.1% during the fourth quarter. Gray Wealth Management Inc. now owns 35,615 shares of the pipeline company’s stock valued at $698,000 after buying an additional 10,728 shares during the last quarter. Finally, NFC Investments LLC increased its holdings in Energy Transfer by 442.1% during the fourth quarter. NFC Investments LLC now owns 309,000 shares of the pipeline company’s stock valued at $6,053,000 after buying an additional 252,000 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Citigroup upped their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their target price 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. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Performance

ET opened at $18.67 on Wednesday. The stock has a market capitalization of $64.04 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.64 and a beta of 1.72. The company has a fifty day moving average of $19.62 and a 200 day moving average of $18.23. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.96%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Energy Transfer 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.