Spirit of America Management Corp NY Sells 87,000 Shares of Energy Transfer LP $ET

Spirit of America Management Corp NY decreased its position in shares of Energy Transfer LP (NYSE:ET) by 22.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 303,200 shares of the pipeline company’s stock after selling 87,000 shares during the period. Energy Transfer makes up about 1.1% of Spirit of America Management Corp NY’s portfolio, making the stock its 22nd biggest holding. Spirit of America Management Corp NY’s holdings in Energy Transfer were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ET. Lee Financial Co grew its position in Energy Transfer by 359.7% in the third quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock valued at $3,326,000 after acquiring an additional 151,657 shares during the last quarter. Eagle Global Advisors LLC lifted its holdings in shares of Energy Transfer by 6.0% in the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock worth $110,958,000 after acquiring an additional 363,623 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Energy Transfer by 223.7% in the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after purchasing an additional 1,168,440 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Energy Transfer by 2,687.9% in the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after purchasing an additional 1,727,104 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Energy Transfer by 5.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock valued at $50,235,000 after purchasing an additional 144,037 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.5%

Energy Transfer stock opened at $19.57 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $19.86. The firm has a 50 day moving average price of $18.60 and a two-hundred day moving average price of $17.42. The firm has a market cap of $67.32 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.10 and a beta of 0.63.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 6.8%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is currently 110.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Barclays reaffirmed an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

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.