Wedbush Securities Inc. raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,281 shares of the pipeline company's stock after buying an additional 41,438 shares during the period. Wedbush Securities Inc.'s holdings in Energy Transfer were worth $2,650,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer during the fourth quarter valued at $25,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank acquired a new position in shares of Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.
Wall Street Analyst Weigh In
ET has been the subject of several research reports. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.
Check Out Our Latest Stock Analysis on ET
Energy Transfer Stock Down 1.5 %
Shares of ET traded down $0.25 during mid-day trading on Monday, hitting $15.92. 44,821,878 shares of the company traded hands, compared to its average volume of 14,962,556. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 1-year low of $14.68 and a 1-year high of $21.45. The company has a market capitalization of $54.61 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The business has a 50 day moving average of $19.18 and a 200 day moving average of $18.46.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 8.17%. Energy Transfer's dividend payout ratio (DPR) is presently 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.
Featured Stories
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
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
