Pallas Capital Advisors LLC Sells 2,000 Shares of Energy Transfer LP (NYSE:ET)

Pallas Capital Advisors LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,012 shares of the pipeline company’s stock after selling 2,000 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Energy Transfer were worth $196,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Private Client Services LLC boosted its position in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. Fortis Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Haverford Trust Co increased its holdings in shares of Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after purchasing an additional 675 shares during the last quarter. Finally, Veracity Capital LLC boosted its stake in Energy Transfer by 2.0% during the third quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after buying an additional 680 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ET. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Up 0.6 %

Shares of ET opened at $20.04 on Thursday. The firm has a fifty day moving average price of $18.85 and a 200-day moving average price of $17.12. 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 firm has a market capitalization of $68.62 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.62 and a beta of 1.70. Energy Transfer LP has a 12-month low of $13.60 and a 12-month high of $20.32.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.44%. Energy Transfer’s payout ratio 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.