Westend Capital Management LLC Buys 17,546 Shares of Energy Transfer LP (NYSE:ET)

Westend Capital Management LLC boosted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 748,121 shares of the pipeline company's stock after acquiring an additional 17,546 shares during the period. Energy Transfer accounts for 4.4% of Westend Capital Management LLC's holdings, making the stock its 6th biggest position. Westend Capital Management LLC's holdings in Energy Transfer were worth $14,656,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ET. Empowered Funds LLC boosted its holdings in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock worth $5,567,000 after acquiring an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in Energy Transfer in the 4th quarter valued at $1,297,000. Kingsview Wealth Management LLC increased its position in Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock worth $3,885,000 after buying an additional 57,184 shares during the period. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock worth $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Finally, Paragon Capital Management Ltd lifted its holdings in shares of Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company's stock worth $1,346,000 after buying an additional 55,890 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Price Performance

NYSE:ET traded up $0.03 on Friday, hitting $20.28. The company had a trading volume of 14,533,663 shares, compared to its average volume of 11,469,590. Energy Transfer LP has a 52 week low of $13.60 and a 52 week high of $20.40. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. The firm has a 50 day moving average of $19.02 and a two-hundred day moving average of $17.19.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average target price of $20.82.

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.