Baldwin Wealth Partners LLC MA Has $5 Million Holdings in Energy Transfer LP (NYSE:ET)

Baldwin Wealth Partners LLC MA cut its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,753 shares of the pipeline company's stock after selling 17,826 shares during the quarter. Baldwin Wealth Partners LLC MA's holdings in Energy Transfer were worth $4,996,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ET. Bank of Montreal Can boosted its position in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the period. FMR LLC boosted its position in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Energy Transfer during the 4th quarter worth about $79,113,000. Hsbc Holdings PLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $50,166,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after purchasing an additional 2,512,060 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ET shares. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. cut their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wells Fargo & Company cut their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Performance

NYSE ET traded up $0.20 during trading on Thursday, hitting $18.45. The company's stock had a trading volume of 11,161,064 shares, compared to its average volume of 15,591,457. 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 firm has a 50 day moving average price of $17.22 and a 200 day moving average price of $18.60. The firm has a market cap of $63.32 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.10%. Energy Transfer's 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.