Energy Transfer LP (NYSE:ET) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,927 shares of the pipeline company’s stock after selling 607 shares during the quarter. Perigon Wealth Management LLC’s holdings in Energy Transfer were worth $748,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ET. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after purchasing an additional 547 shares during the last quarter. Marcum Wealth LLC grew its position in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 561 shares in the last quarter. Financial Freedom LLC increased its holdings in shares of Energy Transfer by 26.8% in the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 614 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Energy Transfer by 1.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 36,381 shares of the pipeline company’s stock worth $713,000 after buying an additional 617 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Energy Transfer Stock Down 2.9 %

Shares of NYSE ET opened at $20.47 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $19.57 and its two-hundred day moving average is $17.46. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.54 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. Research analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.35%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 95.59%.

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.