Tcfg Wealth Management LLC Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

Tcfg Wealth Management LLC lowered its position in Energy Transfer LP (NYSE:ET) by 55.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,119 shares of the pipeline company’s stock after selling 15,101 shares during the period. Tcfg Wealth Management LLC’s holdings in Energy Transfer were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC grew its position in shares of Energy Transfer by 0.9% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 104,408 shares of the pipeline company’s stock worth $2,045,000 after buying an additional 892 shares during the last quarter. Allworth Financial LP grew its position in shares of Energy Transfer by 59.6% in the 4th quarter. Allworth Financial LP now owns 54,067 shares of the pipeline company’s stock worth $1,131,000 after buying an additional 20,187 shares during the last quarter. Principal Securities Inc. grew its position in Energy Transfer by 9.8% during the 4th quarter. Principal Securities Inc. now owns 28,203 shares of the pipeline company’s stock worth $552,000 after purchasing an additional 2,516 shares during the last quarter. Next Level Wealth Planning LLC purchased a new stake in Energy Transfer during the 4th quarter worth approximately $299,000. Finally, CapWealth Advisors LLC purchased a new stake in Energy Transfer during the 4th quarter worth approximately $335,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays boosted 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. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.98 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a 50 day simple moving average of $19.78 and a two-hundred day simple moving average of $17.76. Energy Transfer LP has a 12 month low of $14.09 and a 12 month high of $21.45. The stock has a market cap of $68.42 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. As a group, analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.51%. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 94.85%.

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.