Jaffetilchin Investment Partners LLC Decreases Holdings in Energy Transfer LP (NYSE:ET)

Jaffetilchin Investment Partners LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,801 shares of the pipeline company’s stock after selling 2,247 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Energy Transfer were worth $407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC grew its holdings in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares during the last quarter. Private Client Services LLC increased its holdings in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after purchasing an additional 535 shares during the last quarter. Cannell & Spears LLC lifted its holdings in shares of Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after purchasing an additional 546 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ET has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Up 1.4 %

ET stock opened at $16.13 on Friday. The stock has a market capitalization of $55.33 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a 50-day simple moving average of $18.55 and a 200-day simple moving average of $18.42. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its earnings results 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 net margin of 5.74% and a return on equity of 11.56%. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 8.06%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 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.