180 Wealth Advisors LLC Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

180 Wealth Advisors LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 207,888 shares of the pipeline company’s stock after selling 1,615 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Energy Transfer were worth $4,073,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ET. Princeton Global Asset Management LLC raised its stake in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. boosted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $19.45 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $66.60 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The firm has a 50 day moving average of $18.79 and a 200 day moving average of $17.09. Energy Transfer LP has a twelve month low of $13.60 and a twelve month high of $20.02.

Energy Transfer (NYSE:ET) last released 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 company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.63%. Energy Transfer’s payout ratio is 94.85%.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

About Energy Transfer

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.