Potentia Wealth Makes New Investment in Energy Transfer LP (NYSE:ET)

Potentia Wealth acquired a new position in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,174 shares of the pipeline company's stock, valued at approximately $317,000.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.

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Energy Transfer Stock Performance

Shares of ET traded down $0.01 during mid-day trading on Tuesday, hitting $18.87. The stock had a trading volume of 8,726,289 shares, compared to its average volume of 14,532,757. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market cap of $64.75 billion, a PE ratio of 14.74, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The company's fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $18.33.

Energy Transfer (NYSE:ET - Get Free Report) last released its 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 net margin of 5.74% and a return on equity of 11.56%. On average, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.89%. Energy Transfer's dividend payout ratio is 101.56%.

Energy Transfer 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.