Clearbridge Investments LLC Has $316.68 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Clearbridge Investments LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,165,263 shares of the pipeline company’s stock after selling 478,496 shares during the period. Clearbridge Investments LLC’s holdings in Energy Transfer were worth $316,678,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ET. SCP Investment LP increased its stake in Energy Transfer by 28.8% in the 4th quarter. SCP Investment LP now owns 26,800 shares of the pipeline company’s stock valued at $525,000 after buying an additional 6,000 shares during the last quarter. Hartree Partners LP bought a new stake in shares of Energy Transfer during the 4th quarter worth $16,083,000. American Money Management LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth about $283,000. Strategy Asset Managers LLC boosted its holdings in shares of Energy Transfer by 5.9% in the 4th quarter. Strategy Asset Managers LLC now owns 19,734 shares of the pipeline company’s stock worth $387,000 after buying an additional 1,107 shares during the last quarter. Finally, Hobbs Group Advisors LLC increased its holdings in Energy Transfer by 5.3% during the fourth quarter. Hobbs Group Advisors LLC now owns 13,862 shares of the pipeline company’s stock worth $272,000 after buying an additional 702 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ET shares. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

ET stock opened at $18.72 on Friday. The company has a fifty day simple moving average of $19.46 and a two-hundred day simple moving average of $18.37. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The firm has a market capitalization of $64.22 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. Energy Transfer’s dividend payout ratio is 101.56%.

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.