Energy Transfer LP $ET Holdings Cut by Lee Financial Co

Key Points

• Lee Financial Co cut its stake in Energy Transfer (NYSE:ET) by 77.5% in Q4, selling 150,203 shares and leaving 43,614 shares valued at about $719,000.
• Energy Transfer reported Q4 EPS of $0.25, missing estimates by $0.09, while revenue rose 29.6% to $25.32 billion, topping analyst forecasts.
• The company raised its quarterly dividend to $0.335 (annualized $1.34) for a ~7.0% yield, though its dividend payout ratio is elevated at 110.74%.

Lee Financial Co lowered its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 77.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,614 shares of the pipeline company's stock after selling 150,203 shares during the period. Lee Financial Co's holdings in Energy Transfer were worth $719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of Energy Transfer in the third quarter worth $34,000. Core Alternative Capital acquired a new stake in Energy Transfer during the third quarter valued at $46,000. Global Wealth Strategies & Associates grew its stake in Energy Transfer by 196.4% in the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company's stock valued at $49,000 after purchasing an additional 1,964 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in Energy Transfer in the second quarter valued at about $50,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company's stock worth $50,000 after purchasing an additional 817 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.2%

ET opened at $19.05 on Friday. The firm has a market cap of $65.52 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.07 and a beta of 0.62. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The business has a 50 day moving average price of $18.77 and a 200 day moving average price of $17.51. Energy Transfer LP has a twelve month low of $15.41 and a twelve month high of $19.85.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. During the same quarter last year, the business earned $0.29 EPS. The company's revenue for the quarter was up 29.6% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, February 6th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is 110.74%.

Analyst Ratings Changes

Several brokerages recently commented on ET. Wells Fargo & Company boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. Scotiabank reaffirmed an "outperform" rating on shares of Energy Transfer in a research report on Friday, January 16th. Truist Financial assumed coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They issued a "buy" rating and a $23.00 target price for the company. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Energy Transfer in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.60.

Energy Transfer Company Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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