Camelot Portfolios LLC Cuts Stock Position in Energy Transfer LP (NYSE:ET)

Camelot Portfolios LLC decreased its stake in Energy Transfer LP (NYSE:ET) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,772 shares of the pipeline company’s stock after selling 3,500 shares during the quarter. Camelot Portfolios LLC’s holdings in Energy Transfer were worth $583,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after buying an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer during the 4th quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the period. Finally, Paragon Capital Management Ltd grew its position in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 2.7 %

Shares of ET opened at $19.40 on Friday. 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 market capitalization of $66.55 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. The business’s 50-day moving average price is $19.87 and its 200 day moving average price is $17.90.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.70%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. 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 raised their price target on shares of 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 nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.