Strategic Financial Concepts LLC Sells 6,563 Shares of Energy Transfer LP (NYSE:ET)

Strategic Financial Concepts LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,302 shares of the pipeline company’s stock after selling 6,563 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Energy Transfer were worth $750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer during the fourth quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of 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 worth $148,621,000 after buying an additional 293,088 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd grew its position in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after buying an additional 55,890 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.8 %

Shares of NYSE ET opened at $20.14 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $14.52 and a 12 month high of $21.45. The firm has a market capitalization of $68.94 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The firm has a fifty day simple moving average of $19.85 and a two-hundred day simple moving average of $17.86.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. Equities analysts expect that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.46%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

ET has been the topic of several research analyst reports. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.18.

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.