Patient Capital Management LLC Sells 204,948 Shares of Energy Transfer LP (NYSE:ET)

Patient Capital Management LLC lowered its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,091,882 shares of the pipeline company's stock after selling 204,948 shares during the quarter. Energy Transfer accounts for about 4.6% of Patient Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Patient Capital Management LLC owned about 0.15% of Energy Transfer worth $99,750,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Stonegate Investment Group LLC raised its holdings in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock worth $672,000 after acquiring an additional 482 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of Energy Transfer by 0.4% in 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 boosted its position in shares of Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after buying an additional 546 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after buying an additional 547 shares in the last quarter. Finally, Platform Technology Partners boosted its position in Energy Transfer by 0.8% during the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock worth $1,318,000 after acquiring an additional 553 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ET. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Wells Fargo & Company lowered their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded down $0.01 on Friday, hitting $17.96. The stock had a trading volume of 7,626,893 shares, compared to its average volume of 15,531,672. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $61.63 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The business's 50 day moving average is $17.48 and its two-hundred day moving average is $18.54. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.29%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. Energy Transfer's dividend payout ratio is presently 99.24%.

About Energy Transfer

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.