Selway Asset Management Has $2.77 Million Stock Position in Energy Transfer LP (NYSE:ET)

Selway Asset Management lowered its position in Energy Transfer LP (NYSE:ET - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,000 shares of the pipeline company's stock after selling 15,000 shares during the quarter. Energy Transfer comprises approximately 1.1% of Selway Asset Management's investment portfolio, making the stock its 29th biggest holding. Selway Asset Management's holdings in Energy Transfer were worth $2,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ET. Brighton Jones LLC boosted its stake in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. Blue Trust Inc. boosted its stake in Energy Transfer by 19.9% during the fourth quarter. Blue Trust Inc. now owns 14,128 shares of the pipeline company's stock valued at $277,000 after buying an additional 2,345 shares in the last quarter. Caprock Group LLC bought a new position in Energy Transfer during the fourth quarter valued at about $1,119,000. Spire Wealth Management grew its holdings in Energy Transfer by 2.3% during the fourth quarter. Spire Wealth Management now owns 102,958 shares of the pipeline company's stock worth $2,017,000 after acquiring an additional 2,320 shares during the period. Finally, Burford Brothers Inc. grew its holdings in Energy Transfer by 13.3% during the fourth quarter. Burford Brothers Inc. now owns 50,894 shares of the pipeline company's stock worth $997,000 after acquiring an additional 5,973 shares during the period. Institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ET shares. Mizuho raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Wells Fargo & Company dropped their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Down 2.1%

Shares of NYSE ET traded down $0.37 during mid-day trading on Wednesday, reaching $17.53. The company had a trading volume of 18,010,104 shares, compared to its average volume of 15,513,043. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market capitalization of $60.16 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.64 and a beta of 0.77. The stock has a fifty day moving average of $17.26 and a two-hundred day moving average of $18.63. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

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.