Cerity Partners LLC Purchases 66,056 Shares of Energy Transfer LP (NYSE:ET)

Cerity Partners LLC raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 27.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 308,587 shares of the pipeline company's stock after buying an additional 66,056 shares during the period. Cerity Partners LLC's holdings in Energy Transfer were worth $5,866,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $29,000. United Community Bank acquired a new position in Energy Transfer during the fourth quarter worth approximately $35,000. Financial Life Planners acquired a new stake in Energy Transfer during the 4th quarter valued at $37,000. Finally, Tortoise Investment Management LLC grew its stake 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.

Analyst Upgrades and Downgrades

ET has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

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Energy Transfer Trading Up 0.6 %

Shares of NYSE:ET traded up $0.10 during midday trading on Wednesday, hitting $17.21. 2,449,137 shares of the stock were exchanged, compared to its average volume of 17,734,641. The business's 50-day moving average price is $18.41 and its 200 day moving average price is $18.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The stock has a market capitalization of $59.03 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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%. Analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid 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 annualized dividend and a yield of 7.56%. Energy Transfer's payout ratio is 101.56%.

About Energy Transfer

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.