AssuredPartners Investment Advisors LLC bought a new stake 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. The firm bought 13,861 shares of the pipeline company's stock, valued at approximately $272,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Stonegate Investment Group LLC grew its position in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC lifted its stake in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after buying an additional 511 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after buying an additional 535 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after buying an additional 547 shares in the last quarter. Finally, Platform Technology Partners raised its holdings in shares of Energy Transfer by 0.8% during the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock valued at $1,318,000 after acquiring an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.
Energy Transfer Trading Up 0.7 %
NYSE:ET traded up $0.14 on Tuesday, reaching $18.73. The company's stock had a trading volume of 11,186,913 shares, compared to its average volume of 14,576,327. The firm has a market cap of $64.25 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. 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 LP has a 12-month low of $14.90 and a 12-month high of $21.45. The stock has a 50 day moving average price of $19.38 and a 200 day moving average price of $18.43.
Energy Transfer (NYSE:ET - Get Free Report) last posted 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, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal 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 given a $0.325 dividend. 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. This represents a $1.30 dividend on an annualized basis and a yield of 6.94%. Energy Transfer's payout ratio is presently 101.56%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on ET shares. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.
View Our Latest Report on Energy Transfer
Energy Transfer Company Profile
(
Free Report)
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.
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