Pinnacle Holdings LLC Sells 8,180 Shares of Energy Transfer LP (NYSE:ET)

Pinnacle Holdings LLC reduced its position in Energy Transfer LP (NYSE:ET) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 183,356 shares of the pipeline company’s stock after selling 8,180 shares during the period. Energy Transfer comprises 1.4% of Pinnacle Holdings LLC’s holdings, making the stock its 14th largest position. Pinnacle Holdings LLC’s holdings in Energy Transfer were worth $3,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after acquiring an additional 388,073 shares during the period. Bank of Montreal Can grew its position in shares of Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Energy Transfer by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock worth $228,470,000 after purchasing an additional 1,058,603 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 2.6 %

Shares of ET stock opened at $15.46 on Wednesday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock’s fifty day moving average price is $18.90 and its two-hundred day moving average price is $18.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market cap of $53.03 billion, a PE ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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%. Equities 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 was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 8.41%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus raised their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

About Energy Transfer

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.