Duff & Phelps Investment Management Co. Sells 1,142,283 Shares of Energy Transfer LP $ET

Duff & Phelps Investment Management Co. lessened its position in Energy Transfer LP (NYSE:ET) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,903,464 shares of the pipeline company’s stock after selling 1,142,283 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Energy Transfer were worth $66,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantum Private Wealth LLC lifted its holdings in shares of Energy Transfer by 0.5% during the second quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after buying an additional 627 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Energy Transfer by 3.4% in the third quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock worth $321,000 after acquiring an additional 628 shares during the last quarter. Magnus Financial Group LLC increased its position in Energy Transfer by 2.0% during the third quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock worth $539,000 after acquiring an additional 629 shares during the period. Perigon Wealth Management LLC raised its stake in Energy Transfer by 1.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company’s stock valued at $679,000 after purchasing an additional 644 shares during the last quarter. Finally, Veracity Capital LLC grew its position in Energy Transfer by 1.9% in the 3rd quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 689 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $18.75 on Thursday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $19.30. The firm’s 50 day moving average is $18.05 and its 200-day moving average is $17.28. The firm has a market capitalization of $64.49 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.96 and a beta of 0.63. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The company had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a $0.335 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, February 6th. Energy Transfer’s dividend payout ratio is currently 110.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Finally, Barclays reaffirmed an “overweight” rating and set a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.40.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.