Energy Transfer LP (NYSE:ET) Stock Holdings Lowered by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,832,257 shares of the pipeline company’s stock after selling 448,738 shares during the quarter. Energy Transfer accounts for approximately 1.7% of Pinnacle Wealth Planning Services Inc.’s holdings, making the stock its 3rd largest holding. Pinnacle Wealth Planning Services Inc. owned about 0.11% of Energy Transfer worth $75,074,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ET. FMR LLC raised its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the period. BNP Paribas Financial Markets grew its stake in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Citigroup Inc. grew its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Prospera Private Wealth LLC grew its stake in Energy Transfer by 1,680.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after purchasing an additional 730,706 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Energy Transfer by 1,572.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after purchasing an additional 705,475 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

A number of equities research analysts have weighed in on ET shares. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Citigroup raised their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

Shares of ET opened at $18.21 on Thursday. Energy Transfer LP has a 52 week low of $14.87 and a 52 week high of $21.45. The firm has a market cap of $62.47 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.64 and a beta of 1.69. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $19.87 and a 200-day moving average of $18.08.

Energy Transfer (NYSE:ET) last released 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%. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.14%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Energy Transfer 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.