Energy Transfer LP (NYSE:ET) Shares Sold by Cercano Management LLC

Cercano Management LLC reduced its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 52.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,295 shares of the pipeline company's stock after selling 229,200 shares during the period. Cercano Management LLC's holdings in Energy Transfer were worth $4,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Energy Transfer by 4.2% during the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company's stock worth $2,028,000 after purchasing an additional 5,127 shares in the last quarter. Tidal Investments LLC lifted its position in Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock valued at $1,633,000 after acquiring an additional 1,248 shares during the last quarter. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter valued at $29,000. CWA Asset Management Group LLC increased its position in shares of Energy Transfer by 99.6% during the fourth quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company's stock worth $913,000 after purchasing an additional 23,249 shares in the last quarter. Finally, Capital Market Strategies LLC raised its position in Energy Transfer by 4.5% in the 4th quarter. Capital Market Strategies LLC now owns 23,455 shares of the pipeline company's stock valued at $459,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Analysts Set New Price Targets

ET has been the topic of several recent research reports. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Trading Down 0.9 %

NYSE:ET traded down $0.15 on Friday, reaching $17.22. The stock had a trading volume of 16,161,297 shares, compared to its average volume of 15,516,554. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a market cap of $59.09 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.64 and a beta of 0.77. The firm's fifty day moving average is $17.46 and its two-hundred day moving average is $18.51. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a $0.3275 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.61%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.34%.

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.