Royal Bank of Canada Sells 358,501 Shares of Energy Transfer LP (NYSE:ET)

Royal Bank of Canada reduced its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,998,538 shares of the pipeline company's stock after selling 358,501 shares during the quarter. Royal Bank of Canada owned 0.15% of Energy Transfer worth $97,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ET. Forvis Mazars Wealth Advisors LLC grew its stake in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after purchasing an additional 37,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock worth $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Energy Transfer by 44.2% in the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after purchasing an additional 41,438 shares during the last quarter. FFG Partners LLC grew its stake in shares of Energy Transfer by 0.9% in the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after purchasing an additional 13,948 shares during the last quarter. Finally, Greenland Capital Management LP bought a new stake in shares of Energy Transfer in the fourth quarter worth about $2,253,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

ET stock opened at $17.99 on Tuesday. The firm has a 50 day moving average price of $17.47 and a 200-day moving average price of $18.59. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market capitalization of $61.73 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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 analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during 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%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 7.28%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's dividend payout ratio is 99.24%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ET. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company lowered their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus target price of $22.36.

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.

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