L & S Advisors Inc Sells 250,000 Shares of Energy Transfer LP (NYSE:ET)

L & S Advisors Inc reduced its position in shares of Energy Transfer LP (NYSE:ET) by 95.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,814 shares of the pipeline company’s stock after selling 250,000 shares during the quarter. L & S Advisors Inc’s holdings in Energy Transfer were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer in the 4th quarter worth $25,000. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $29,000. United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC raised its position in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 0.9 %

Shares of Energy Transfer stock opened at $18.72 on Monday. The firm has a market cap of $64.22 billion, a PE ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. The business’s 50 day simple moving average is $19.46 and its 200 day simple moving average is $18.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, analysts predict 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. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. This is an increase 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%.

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.