Allworth Financial LP Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Allworth Financial LP grew its stake in Energy Transfer LP (NYSE:ET - Free Report) by 59.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,067 shares of the pipeline company's stock after acquiring an additional 20,187 shares during the quarter. Allworth Financial LP's holdings in Energy Transfer were worth $1,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. grew its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter worth $29,000. Financial Life Planners purchased a new position in Energy Transfer during the 4th quarter worth $37,000. Finally, Continuum Advisory LLC grew its stake in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock worth $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.55 during mid-day trading on Friday, reaching $19.40. 15,630,769 shares of the stock traded hands, compared to its average volume of 16,852,734. The business has a 50-day moving average of $19.87 and a 200 day moving average of $17.90. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The stock has a market capitalization of $66.55 billion, a PE ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69. 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 - Get Free Report) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts' consensus estimates 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, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. Energy Transfer's dividend payout ratio is 101.56%.

Analysts Set New Price Targets

Several research firms have weighed in on ET. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

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.