Energy Transfer LP (NYSE:ET) Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,632 shares of the pipeline company’s stock after purchasing an additional 1,109 shares during the quarter. Harbour Investments Inc.’s holdings in Energy Transfer were worth $2,363,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ET. Assetmark Inc. increased its position 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 in the last quarter. Empowered Funds LLC increased its position in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Energy Transfer by 57.0% during the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after purchasing an additional 7,870 shares in the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of Energy Transfer during the third quarter worth approximately $392,000. Finally, MAI Capital Management increased its position in shares of Energy Transfer by 5.9% during the third quarter. MAI Capital Management now owns 698,113 shares of the pipeline company’s stock worth $11,205,000 after purchasing an additional 39,029 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $18.88 on Tuesday. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The business’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $18.21. The firm has a market cap of $64.80 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. 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 (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities analysts forecast 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. Investors of record on Friday, February 7th were paid 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 was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.88%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup upped their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer 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.