Nicholas Hoffman & Company LLC. bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,920 shares of the pipeline company's stock, valued at approximately $429,000.
Other institutional investors have also made changes to their positions in the company. Creative Planning raised its holdings in Energy Transfer by 16.9% in the third quarter. Creative Planning now owns 796,099 shares of the pipeline company's stock valued at $12,777,000 after acquiring an additional 115,081 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in Energy Transfer by 3.0% in the third quarter. Stratos Wealth Advisors LLC now owns 39,320 shares of the pipeline company's stock valued at $631,000 after acquiring an additional 1,160 shares in the last quarter. Blue Trust Inc. raised its holdings in Energy Transfer by 173.1% in the third quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company's stock valued at $191,000 after acquiring an additional 7,468 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in Energy Transfer by 22.9% in the third quarter. First Citizens Bank & Trust Co. now owns 14,015 shares of the pipeline company's stock valued at $225,000 after acquiring an additional 2,613 shares in the last quarter. Finally, Chicago Capital LLC raised its holdings in Energy Transfer by 4.3% in the third quarter. Chicago Capital LLC now owns 32,561 shares of the pipeline company's stock valued at $523,000 after acquiring an additional 1,331 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ET. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and a consensus target price of $21.18.
Check Out Our Latest Stock Report on ET
Energy Transfer Stock Performance
Shares of Energy Transfer stock traded down $0.55 during trading on Friday, hitting $19.40. 15,630,769 shares of the stock were exchanged, compared to its average volume of 16,812,701. The stock's fifty day moving average is $19.87 and its 200 day moving average is $17.90. The stock has a market cap of $66.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. 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 $14.52 and a 12 month high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.70%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 101.56%.
About Energy Transfer
(
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.
Read More
Before you consider Energy Transfer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Transfer wasn't on the list.
While Energy Transfer currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
