Energy Transfer LP (NYSE:ET) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lowered its stake in Energy Transfer LP (NYSE:ET) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,726 shares of the pipeline company’s stock after selling 11,999 shares during the period. Sonora Investment Management Group LLC’s holdings in Energy Transfer were worth $1,856,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in Energy Transfer during the 2nd quarter worth about $290,000. Sei Investments Co. grew its position in Energy Transfer by 77.4% during the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after purchasing an additional 20,093 shares in the last quarter. Bank of Montreal Can lifted its position in Energy Transfer by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock worth $1,598,000 after buying an additional 3,887 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Energy Transfer by 5.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 148,807 shares of the pipeline company’s stock worth $2,414,000 after acquiring an additional 7,430 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Energy Transfer by 3.3% in the second quarter. EP Wealth Advisors LLC now owns 40,794 shares of the pipeline company’s stock valued at $662,000 after purchasing an additional 1,315 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ET shares. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $21.12 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The firm has a fifty day moving average of $19.52 and a two-hundred day moving average of $17.44. The stock has a market capitalization of $72.30 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.54 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.16%. Energy Transfer’s payout ratio is currently 94.85%.

About Energy Transfer

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.