Future Financial Wealth Managment LLC Has $167,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Future Financial Wealth Managment LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 48.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,548 shares of the pipeline company’s stock after selling 7,901 shares during the period. Future Financial Wealth Managment LLC’s holdings in Energy Transfer were worth $167,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ET. FMR LLC increased its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after buying an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after buying an additional 352,625 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Up 0.7 %

Shares of NYSE:ET traded up $0.13 during midday trading on Monday, reaching $19.55. The company had a trading volume of 13,636,077 shares, compared to its average volume of 13,981,104. 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 business’s 50 day moving average price is $18.73 and its 200 day moving average price is $17.07. The stock has a market cap of $66.94 billion, a PE ratio of 14.38, a P/E/G ratio of 0.62 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.