Energy Transfer LP (NYSE:ET) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 19.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,451,751 shares of the pipeline company’s stock after selling 838,980 shares during the period. Energy Transfer makes up about 7.5% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Infrastructure Capital Advisors LLC’s holdings in Energy Transfer were worth $55,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently 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 worth $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. International Assets Investment Management LLC increased its stake in Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 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 brokerages have recently weighed in on ET. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Up 1.1 %

NYSE:ET opened at $19.42 on Friday. The firm has a market cap of $66.49 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.66. The stock has a fifty day moving average price of $16.91 and a 200 day moving average price of $16.27. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.71. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

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 firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.34 earnings per share 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 issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.