American Money Management LLC Purchases Shares of 14,460 Energy Transfer LP (NYSE:ET)

American Money Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,460 shares of the pipeline company's stock, valued at approximately $283,000.

A number of other institutional investors have also modified their holdings of the business. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer during the 4th quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $35,000. Financial Life Planners acquired a new stake in shares of Energy Transfer during the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC grew its position in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ET. Citigroup restated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Price Performance

Shares of ET stock traded up $0.18 during mid-day trading on Wednesday, reaching $18.91. The stock had a trading volume of 3,485,102 shares, compared to its average volume of 16,164,616. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The business has a 50-day simple moving average of $19.38 and a 200 day simple moving average of $18.43. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The company has a market cap of $64.87 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.88%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio is 101.56%.

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.