Sunbelt Securities Inc. Has $3.48 Million Stock Position in Energy Transfer LP (NYSE:ET)

Sunbelt Securities Inc. lessened its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 38.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,814 shares of the pipeline company's stock after selling 113,417 shares during the quarter. Sunbelt Securities Inc.'s holdings in Energy Transfer were worth $3,480,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings 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 shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Energy Transfer in the 4th quarter worth $79,113,000. Hsbc Holdings PLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $50,166,000. Finally, Westwood Holdings Group Inc. increased its holdings in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday. Wells Fargo & Company cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Stock Up 0.6%

Shares of ET stock opened at $17.87 on Friday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. 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 fifty day moving average of $17.43 and a 200-day moving average of $18.59. The company has a market capitalization of $61.32 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results 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. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the business earned $0.32 EPS. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.33%. Energy Transfer's dividend payout ratio (DPR) is presently 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.

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