Energy Transfer LP (NYSE:ET) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC cut its stake in Energy Transfer LP (NYSE:ET) by 5.1% in the fourth quarter, HoldingsChannel reports. The firm owned 15,400 shares of the pipeline company’s stock after selling 823 shares during the quarter. Granite Group Advisors LLC’s holdings in Energy Transfer were worth $302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ET. Empowered Funds LLC raised its position in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Energy Transfer by 4.0% during the 4th 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 boosted its holdings 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 buying an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd raised its stake in Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 55,890 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ET has been the subject of several research analyst reports. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted 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. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Trading Down 0.6 %

Shares of Energy Transfer stock opened at $20.93 on Monday. The firm has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The company’s 50-day simple moving average is $19.39 and its 200-day simple moving average is $17.35. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

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.