Spirit of America Management Corp NY Trims Position in Energy Transfer LP (NYSE:ET)

Spirit of America Management Corp NY decreased its stake in shares of Energy Transfer LP (NYSE:ET) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 574,700 shares of the pipeline company’s stock after selling 61,000 shares during the period. Energy Transfer comprises about 2.3% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 4th biggest holding. Spirit of America Management Corp NY’s holdings in Energy Transfer were worth $11,258,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after acquiring an additional 20,093 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Energy Transfer by 26.5% in the third quarter. Fulton Bank N.A. now owns 32,172 shares of the pipeline company’s stock worth $516,000 after acquiring an additional 6,735 shares during the last quarter. Axiom Advisory LLC lifted its holdings in Energy Transfer by 3.6% in the third quarter. Axiom Advisory LLC now owns 35,466 shares of the pipeline company’s stock worth $571,000 after acquiring an additional 1,248 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in Energy Transfer by 5.6% in the third quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock worth $2,209,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in Energy Transfer by 11.8% in the third quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock worth $527,000 after acquiring an additional 3,472 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $20.77 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market capitalization of $71.10 billion, a PE ratio of 15.27, a P/E/G ratio of 0.54 and a beta of 1.69. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. The company’s 50 day simple moving average is $19.63 and its 200 day simple moving average is $17.54.

Energy Transfer (NYSE:ET) last posted its quarterly 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 firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given 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 is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.26%. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ET shares. Royal Bank of Canada lifted their price target 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 lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays lifted 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. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given 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 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.