Spring Capital Management LLC Acquires Shares of 29,192 Energy Transfer LP (NYSE:ET)

Spring Capital Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,192 shares of the pipeline company's stock, valued at approximately $572,000.

Several other institutional investors have also added to or reduced their stakes in ET. TrueWealth Advisors LLC boosted its holdings in shares of Energy Transfer by 17.2% in the fourth quarter. TrueWealth Advisors LLC now owns 16,137 shares of the pipeline company's stock worth $316,000 after acquiring an additional 2,371 shares during the period. Merit Financial Group LLC lifted its holdings in Energy Transfer by 103.7% during the 4th quarter. Merit Financial Group LLC now owns 66,992 shares of the pipeline company's stock worth $1,312,000 after purchasing an additional 34,105 shares in the last quarter. Walker Asset Management LLC boosted its stake in Energy Transfer by 27.8% in the 4th quarter. Walker Asset Management LLC now owns 15,597 shares of the pipeline company's stock worth $306,000 after purchasing an additional 3,394 shares during the period. Yarger Wealth Strategies LLC grew its holdings in Energy Transfer by 3.7% during the 4th quarter. Yarger Wealth Strategies LLC now owns 20,225 shares of the pipeline company's stock valued at $396,000 after buying an additional 722 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its position in shares of Energy Transfer by 1.5% during the fourth quarter. Morton Capital Management LLC CA now owns 45,789 shares of the pipeline company's stock valued at $897,000 after buying an additional 683 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Energy Transfer Trading Up 0.2 %

Shares of ET traded up $0.03 during mid-day trading on Friday, reaching $20.28. The company's stock 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 stock has a market cap of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The company's fifty day moving average price is $18.96 and its two-hundred day moving average price is $17.16. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

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

Energy Transfer Cuts Dividend

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

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.