Anthracite Investment Company Inc. Has $3.57 Million Stock Position in Energy Transfer LP (NYSE:ET)

Anthracite Investment Company Inc. reduced its position in shares of Energy Transfer LP (NYSE:ET) by 14.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,000 shares of the pipeline company’s stock after selling 31,884 shares during the period. Energy Transfer comprises about 1.2% of Anthracite Investment Company Inc.’s investment portfolio, making the stock its 19th biggest position. Anthracite Investment Company Inc.’s holdings in Energy Transfer were worth $3,565,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays raised their price target 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. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Down 0.1 %

NYSE ET opened at $18.87 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The company has a market capitalization of $64.75 billion, a PE ratio of 14.74, a P/E/G ratio of 0.64 and a beta of 1.72. The stock has a 50-day simple moving average of $19.54 and a 200 day simple moving average of $18.33.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. Energy Transfer’s payout ratio is 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.