Granite Group Advisors LLC Trims Holdings in Energy Transfer LP (NYSE:ET)

Granite Group Advisors LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,400 shares of the pipeline company’s stock after selling 823 shares during the quarter. Granite Group Advisors LLC’s holdings in Energy Transfer were worth $302,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ET. Hsbc Holdings PLC bought a new stake in shares of Energy Transfer in the second quarter valued at about $290,000. Sei Investments Co. lifted its position in shares of Energy Transfer by 77.4% in the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after purchasing an additional 20,093 shares during the period. Bank of Montreal Can boosted its stake in shares of Energy Transfer by 4.1% during the second quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock valued at $1,598,000 after purchasing an additional 3,887 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in Energy Transfer by 53.6% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 9,221 shares of the pipeline company’s stock valued at $150,000 after buying an additional 3,219 shares during the period. Finally, Creative Planning raised its stake in Energy Transfer by 5.7% in the second quarter. Creative Planning now owns 681,018 shares of the pipeline company’s stock worth $11,046,000 after buying an additional 36,668 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $20.93 on Monday. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The firm has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The stock’s fifty day moving average is $19.39 and its two-hundred day moving average is $17.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company 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%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.