Alpha Cubed Investments LLC Reduces Stake in Energy Transfer LP (NYSE:ET)

Alpha Cubed Investments LLC cut its position in shares of Energy Transfer LP (NYSE:ET) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,091 shares of the pipeline company’s stock after selling 8,222 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Energy Transfer were worth $648,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the second quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.28 on Tuesday. Energy Transfer LP has a 52 week low of $13.60 and a 52 week high of $20.40. The company has a market cap of $69.45 billion, a P/E ratio of 14.91, a PEG ratio of 0.53 and a beta of 1.70. The business has a 50 day moving average of $19.08 and a two-hundred day moving average of $17.23. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. As a group, analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

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.