Centaurus Financial Inc. Decreases Stake in Energy Transfer LP (NYSE:ET)

Centaurus Financial Inc. lowered its position in Energy Transfer LP (NYSE:ET) by 52.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,995 shares of the pipeline company’s stock after selling 20,746 shares during the period. Centaurus Financial Inc.’s holdings in Energy Transfer were worth $305,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% during 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 purchased a new position in Energy Transfer during the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during 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. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ET. Royal Bank of Canada lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

Shares of ET opened at $19.40 on Thursday. The stock has a 50-day moving average price of $16.85 and a 200-day moving average price of $16.25. The company has a market cap of $66.42 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.71. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.65%. Energy Transfer’s payout ratio is 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.