Wells Fargo & Company MN Raises Position in Energy Transfer LP (NYSE:ET)

Wells Fargo & Company MN raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,662,581 shares of the pipeline company's stock after acquiring an additional 1,058,603 shares during the period. Wells Fargo & Company MN owned about 0.34% of Energy Transfer worth $228,470,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer in the fourth quarter valued at $25,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at $29,000. United Community Bank bought a new position in Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners bought a new position in Energy Transfer in the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC increased its stake in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Up 7.1 %

Shares of ET stock traded up $1.11 on Wednesday, reaching $16.76. 48,063,840 shares of the company were exchanged, compared to its average volume of 15,196,533. The company has a 50-day moving average of $18.74 and a 200-day moving average of $18.42. The company has a market cap of $57.50 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

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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 (EPS) 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%. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.76%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

ET has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target 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. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.