Teamwork Financial Advisors LLC Sells 38,999 Shares of Energy Transfer LP (NYSE:ET)

Teamwork Financial Advisors LLC decreased its position in shares of Energy Transfer LP (NYSE:ET) by 59.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,558 shares of the pipeline company’s stock after selling 38,999 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Energy Transfer were worth $520,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer in the fourth quarter valued at about $1,297,000. Kingsview Wealth Management LLC raised its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares in the last quarter. Paragon Capital Management Ltd lifted its position in shares of Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after buying an additional 55,890 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $20.94 on Thursday. The company’s fifty day moving average price is $19.23 and its 200 day moving average price is $17.28. The company has a market capitalization of $71.68 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.79 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last released its quarterly 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. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.