Formidable Asset Management LLC Reduces Stock Holdings in Energy Transfer LP (NYSE:ET)

Formidable Asset Management LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 73,798 shares of the pipeline company’s stock after selling 1,595 shares during the period. Formidable Asset Management LLC’s holdings in Energy Transfer were worth $1,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WCG Wealth Advisors LLC increased its position in Energy Transfer by 6.4% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,488 shares of the pipeline company’s stock valued at $284,000 after acquiring an additional 871 shares during the last quarter. Hudson Value Partners LLC lifted its holdings in shares of Energy Transfer by 1.6% in the 4th quarter. Hudson Value Partners LLC now owns 64,775 shares of the pipeline company’s stock worth $1,269,000 after acquiring an additional 1,000 shares during the last quarter. Helium Advisors LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth about $500,000. Alpine Global Management LLC bought a new position in Energy Transfer during the 4th quarter valued at about $353,000. Finally, Fourth Dimension Wealth LLC bought a new position in Energy Transfer during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $22.64.

Energy Transfer Stock Down 0.2%

ET stock opened at $17.84 on Friday. The stock has a market capitalization of $61.22 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a 50-day simple moving average of $17.41 and a 200-day simple moving average of $18.59. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.34%. Energy Transfer’s payout ratio is presently 99.24%.

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.