Aveo Capital Partners LLC Sells 9,948 Shares of Energy Transfer LP (NYSE:ET)

Aveo Capital Partners LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 31.3% in the 4th quarter, Holdings Channel reports. The firm owned 21,839 shares of the pipeline company’s stock after selling 9,948 shares during the quarter. Aveo Capital Partners LLC’s holdings in Energy Transfer were worth $428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its position 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 last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd raised its holdings in shares of Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted 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 lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Price Performance

Shares of ET stock opened at $19.98 on Friday. Energy Transfer LP has a fifty-two week low of $14.09 and a fifty-two week high of $21.45. The firm has a market capitalization of $68.42 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.52 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock’s 50-day simple moving average is $19.78 and its 200-day simple moving average is $17.76.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. As a group, equities analysts forecast that Energy Transfer LP will post 1.37 earnings per share 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. Stockholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.51%. Energy Transfer’s payout ratio is presently 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.