Energy Transfer LP (NYSE:ET) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 627,711 shares of the pipeline company's stock after selling 89,976 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Energy Transfer were worth $12,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Stonegate Investment Group LLC lifted its holdings in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after purchasing an additional 482 shares during the last quarter. Private Client Services LLC increased its holdings in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after purchasing an additional 535 shares in the last quarter. Cannell & Spears LLC grew its position in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after purchasing an additional 546 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after buying an additional 547 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ET. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $23.00 target price 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Trading Up 6.7 %

Shares of ET traded up $1.07 during mid-day trading on Wednesday, reaching $16.88. The stock had a trading volume of 13,282,741 shares, compared to its average volume of 17,315,061. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market cap of $57.90 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.64 and a beta of 0.77. The business's fifty day moving average is $17.57 and its 200 day moving average is $18.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The firm had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the company earned $0.32 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Friday, May 9th will be given a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.76%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.

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.