Pinnacle Wealth Planning Services Inc. Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

Pinnacle Wealth Planning Services Inc. lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,832,257 shares of the pipeline company’s stock after selling 448,738 shares during the period. Energy Transfer makes up 1.7% of Pinnacle Wealth Planning Services Inc.’s holdings, making the stock its 3rd largest position. Pinnacle Wealth Planning Services Inc.’s holdings in Energy Transfer were worth $75,074,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ET. FMR LLC raised 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 valued at $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. BNP Paribas Financial Markets raised 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 valued at $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Citigroup Inc. raised 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 valued at $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. Prospera Private Wealth LLC raised its stake in Energy Transfer by 1,680.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after acquiring an additional 730,706 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in Energy Transfer by 1,572.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after acquiring an additional 705,475 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ET shares. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday. Citigroup boosted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped 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. Finally, The Goldman Sachs Group upped 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. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Trading Down 1.4 %

Shares of NYSE ET opened at $18.21 on Thursday. Energy Transfer LP has a 12 month low of $14.87 and a 12 month high of $21.45. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $19.87 and a 200-day simple moving average of $18.08.

Energy Transfer (NYSE:ET) last announced its earnings results 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 net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.14%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.