Southland Equity Partners LLC Sells 2,342 Shares of Energy Transfer LP (NYSE:ET)

Southland Equity Partners LLC cut its stake in shares of Energy Transfer LP (NYSE:ET) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,722 shares of the pipeline company’s stock after selling 2,342 shares during the quarter. Southland Equity Partners LLC’s holdings in Energy Transfer were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC boosted its position in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after buying an additional 3,913,266 shares during the period. BNP Paribas Financial Markets grew its holdings 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 worth $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Citigroup Inc. increased its position in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after acquiring an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in shares of Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after acquiring an additional 1,269,778 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.6 %

Energy Transfer stock opened at $20.93 on Friday. The company has a market capitalization of $71.68 billion, a PE ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 12-month low of $13.79 and a 12-month high of $21.45. The firm’s fifty day moving average is $19.31 and its 200 day moving average is $17.31. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for 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. Finally, The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.82.

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.