Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 66,532 shares of the pipeline company's stock, valued at approximately $1,297,000.
A number of other large investors also recently modified their holdings of the stock. Private Client Services LLC raised its stake in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock worth $331,000 after buying an additional 511 shares during the last quarter. Fortis Capital Management LLC raised its stake in shares of Energy Transfer by 2.0% during the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock worth $513,000 after buying an additional 634 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares during the last quarter. Haverford Trust Co raised its stake in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock worth $1,640,000 after buying an additional 675 shares during the last quarter. Finally, Veracity Capital LLC raised its stake in shares of Energy Transfer by 2.0% during the third quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company's stock worth $550,000 after buying an additional 680 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on ET shares. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Barclays upped their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. 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 for the company. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, 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. 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.55.
View Our Latest Analysis on ET
Energy Transfer Stock Down 1.5 %
Shares of ET stock traded down $0.29 during trading hours on Friday, hitting $19.44. 14,397,855 shares of the company were exchanged, compared to its average volume of 14,070,874. The business has a 50 day moving average of $18.73 and a two-hundred day moving average of $17.05. 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 LP has a 52 week low of $13.60 and a 52 week high of $20.02. The company has a market capitalization of $66.56 billion, a PE ratio of 14.29, a PEG ratio of 0.62 and a beta of 1.70.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.
Energy Transfer Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.
Energy Transfer Profile
(
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.
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