OneDigital Investment Advisors LLC Sells 8,102 Shares of Energy Transfer LP (NYSE:ET)

OneDigital Investment Advisors LLC decreased its position in Energy Transfer LP (NYSE:ET) by 29.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,793 shares of the pipeline company’s stock after selling 8,102 shares during the period. OneDigital Investment Advisors LLC’s holdings in Energy Transfer were worth $318,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new stake in Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ET. Royal Bank of Canada raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Up 4.0 %

Energy Transfer stock opened at $19.02 on Friday. The stock has a market cap of $65.12 billion, a P/E ratio of 13.99, a PEG ratio of 0.55 and a beta of 1.66. 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 firm’s fifty day moving average price is $16.61 and its 200-day moving average price is $16.16. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $19.07.

Energy Transfer (NYSE:ET) last issued its 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. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.78%. Energy Transfer’s dividend 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.