Empower Advisory Group LLC Purchases Shares of 10,476 Energy Transfer LP (NYSE:ET)

Empower Advisory Group LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,476 shares of the pipeline company’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in ET. Princeton Global Asset Management LLC boosted its position in 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 valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. boosted its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $29,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $37,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ET has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. 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, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.98 on Friday. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $17.87. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 0.53 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last announced its earnings results 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 11.66%. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.51%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

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.