Good Life Advisors LLC Sells 2,429 Shares of Energy Transfer LP (NYSE:ET)

Good Life Advisors LLC cut its position in Energy Transfer LP (NYSE:ET) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,294 shares of the pipeline company’s stock after selling 2,429 shares during the quarter. Good Life Advisors LLC’s holdings in Energy Transfer were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Princeton Global Asset Management LLC raised its stake in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $29,000. Financial Life Planners purchased a new position in Energy Transfer during the 4th quarter worth $37,000. Finally, Continuum Advisory LLC increased its position in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ET shares. 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. Stifel Nicolaus raised their price target 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. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company lifted 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, Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Down 0.7 %

Shares of ET opened at $19.98 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market cap of $68.54 billion, a P/E ratio of 15.61, a PEG ratio of 0.53 and a beta of 1.69. The stock’s 50 day moving average is $19.86 and its two-hundred day moving average is $17.87. Energy Transfer LP has a 12 month low of $14.52 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. Analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared 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 6.51%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

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.