CWA Asset Management Group LLC Has $743,000 Position in Energy Transfer LP $ET

CWA Asset Management Group LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 47.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,081 shares of the pipeline company’s stock after selling 40,527 shares during the quarter. CWA Asset Management Group LLC’s holdings in Energy Transfer were worth $743,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC grew its stake in shares of Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after purchasing an additional 7,901 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Energy Transfer by 2.6% in the second quarter. Franklin Resources Inc. now owns 161,433 shares of the pipeline company’s stock worth $2,927,000 after purchasing an additional 4,084 shares during the last quarter. Finally, AlphaCore Capital LLC increased its holdings in Energy Transfer by 34.2% in the second quarter. AlphaCore Capital LLC now owns 13,616 shares of the pipeline company’s stock valued at $247,000 after purchasing an additional 3,473 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Barclays reiterated an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. cut 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. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Energy Transfer Price Performance

ET stock opened at $19.04 on Tuesday. The firm has a market cap of $65.51 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.05 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $19.30. The company’s fifty day simple moving average is $18.40 and its 200 day simple moving average is $17.35.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

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.