Cercano Management LLC Has $4.10 Million Position in Energy Transfer LP (NYSE:ET)

Cercano Management LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 52.3% during the 4th quarter, according to the company in its most recent Form 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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Stonegate Investment Group LLC raised its position in Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after buying an additional 482 shares during the last quarter. Private Client Services LLC raised its holdings in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after purchasing an additional 535 shares in the last quarter. Cannell & Spears LLC grew its position in Energy Transfer by 0.4% in the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after purchasing an additional 546 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its position in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after purchasing an additional 547 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ET shares. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.19 on Tuesday. The firm's 50 day moving average is $17.63 and its 200 day moving average is $18.51. The stock has a market capitalization of $55.55 billion, a P/E ratio of 12.65, a PEG ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 8.09%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 102.34%.

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.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.