Sagespring Wealth Partners LLC Makes New $381,000 Investment in Energy Transfer LP (NYSE:ET)

Sagespring Wealth Partners LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,442 shares of the pipeline company's stock, valued at approximately $381,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC increased its stake in Energy Transfer by 2.9% in the 4th quarter. Townsquare Capital LLC now owns 949,698 shares of the pipeline company's stock valued at $18,605,000 after purchasing an additional 26,376 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Energy Transfer by 5.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,702,380 shares of the pipeline company's stock valued at $72,530,000 after purchasing an additional 204,779 shares during the last quarter. Heritage Trust Co purchased a new position in shares of Energy Transfer during the 4th quarter worth about $412,000. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Energy Transfer by 3.6% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 510,253 shares of the pipeline company's stock valued at $9,996,000 after buying an additional 17,510 shares during the period. Finally, Texas Yale Capital Corp. grew its position in Energy Transfer by 0.5% during the fourth quarter. Texas Yale Capital Corp. now owns 1,193,871 shares of the pipeline company's stock valued at $23,388,000 after acquiring an additional 6,175 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

NYSE ET traded up $0.32 on Friday, hitting $17.24. The stock had a trading volume of 11,249,104 shares, compared to its average volume of 15,208,299. The company's 50-day moving average is $18.29 and its two-hundred day moving average is $18.43. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $59.14 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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 expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.54%. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ET. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. 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. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.

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.