Bleakley Financial Group LLC Sells 2,844 Shares of Energy Transfer LP (NYSE:ET)

Bleakley Financial Group LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,818 shares of the pipeline company’s stock after selling 2,844 shares during the period. Bleakley Financial Group LLC’s holdings in Energy Transfer were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the period. Chickasaw Capital Management LLC increased its stake in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after acquiring an additional 388,073 shares during the period. Brookfield Corp ON increased its stake in Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after acquiring an additional 352,625 shares during the period. BNP Paribas Financial Markets increased its stake in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares during the period. Finally, Citigroup Inc. increased its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the period. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Up 0.4 %

Shares of NYSE:ET opened at $20.01 on Tuesday. The firm has a market cap of $68.50 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.52 and a beta of 1.69. 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 LP has a 12-month low of $13.94 and a 12-month high of $21.45. The business has a fifty day simple moving average of $19.71 and a 200 day simple moving average of $17.65.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.