Barclays PLC Sells 331,673 Shares of Energy Transfer LP $ET

Barclays PLC trimmed its position in Energy Transfer LP (NYSE:ET) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,377,060 shares of the pipeline company’s stock after selling 331,673 shares during the quarter. Barclays PLC owned 0.07% of Energy Transfer worth $40,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Solstein Capital LLC acquired a new stake in Energy Transfer during the third quarter worth $359,000. Smith Moore & CO. raised its stake in shares of Energy Transfer by 28.7% in the 3rd quarter. Smith Moore & CO. now owns 15,816 shares of the pipeline company’s stock valued at $271,000 after buying an additional 3,523 shares in the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Energy Transfer during the 3rd quarter worth about $212,000. American Wealth Advisors LLC bought a new position in shares of Energy Transfer during the 3rd quarter worth about $58,000. Finally, Symphony Financial Services Inc. acquired a new stake in shares of Energy Transfer during the 3rd quarter valued at about $459,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

NYSE:ET opened at $18.31 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The firm has a market cap of $62.97 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.63. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $19.30. The company’s 50-day moving average price is $18.00 and its two-hundred day moving average price is $17.27.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. During the same period in the previous year, the business posted $0.29 EPS. The business’s quarterly revenue was up 29.6% on a year-over-year basis. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.3%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 110.74%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.40.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.