Fortitude Advisory Group L.L.C. Cuts Stake in Energy Transfer LP (NYSE:ET)

Fortitude Advisory Group L.L.C. lessened its stake in Energy Transfer LP (NYSE:ET) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,300 shares of the pipeline company’s stock after selling 1,239 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Energy Transfer were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in shares of 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 buying an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after acquiring an additional 388,073 shares during the last quarter. Brookfield Corp ON grew its stake in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after acquiring an additional 352,625 shares during the period. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. raised its stake in Energy Transfer by 45.9% during the 3rd 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 during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 5.9 %

ET stock opened at $19.80 on Tuesday. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45. The stock has a market capitalization of $67.80 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. 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 firm’s fifty day simple moving average is $19.39 and its two-hundred day simple moving average is $17.36.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm posted $0.31 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price 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. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Barclays boosted their price target 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. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. 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, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.