Energy Transfer LP (NYSE:ET) Shares Sold by Williams Jones Wealth Management LLC.

Williams Jones Wealth Management LLC. lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 811,458 shares of the pipeline company’s stock after selling 26,826 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Energy Transfer were worth $15,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the period. Cannell & Spears LLC boosted its holdings in Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after buying an additional 546 shares in the last quarter. Daymark Wealth Partners LLC grew its position in Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the period. Finally, Platform Technology Partners increased its holdings in Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after buying an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ET shares. Wells Fargo & Company lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.36.

Energy Transfer Stock Up 0.2%

Shares of NYSE:ET opened at $17.99 on Tuesday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market cap of $61.73 billion, a P/E ratio of 14.05, a PEG ratio of 0.64 and a beta of 0.77. The business has a fifty day moving average of $17.47 and a two-hundred day moving average of $18.59. 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 (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a $0.3275 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.28%. Energy Transfer’s dividend payout ratio is 99.24%.

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.