Ninepoint Partners LP Reduces Stock Position in Energy Transfer LP (NYSE:ET)

Ninepoint Partners LP cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,215 shares of the pipeline company’s stock after selling 13,230 shares during the quarter. Ninepoint Partners LP’s holdings in Energy Transfer were worth $1,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Activest Wealth Management increased its holdings in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 736 shares during the last quarter. Veracity Capital LLC increased its holdings in shares of Energy Transfer by 2.3% in the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 738 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Energy Transfer by 2.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 776 shares during the last quarter. Finally, Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer by 1.9% in the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock valued at $592,000 after acquiring an additional 785 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

ET traded up $0.41 during trading on Friday, reaching $15.94. 8,640,452 shares of the company were exchanged, compared to its average volume of 12,447,738. The stock has a market cap of $53.71 billion, a P/E ratio of 14.51 and a beta of 1.64. The firm has a 50 day moving average of $15.16 and a 200 day moving average of $14.23. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 52 week low of $12.18 and a 52 week high of $16.04.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast 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 Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date was Tuesday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is 115.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho reiterated a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday. Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Company 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.