Traynor Capital Management Inc. Has $255,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Traynor Capital Management Inc. grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,039 shares of the pipeline company’s stock after buying an additional 1,983 shares during the quarter. Traynor Capital Management Inc.’s holdings in Energy Transfer were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Private Client Services LLC boosted its stake in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the last quarter. Marcum Wealth LLC raised its position in Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after buying an additional 561 shares during the last quarter. Financial Freedom LLC lifted its stake in Energy Transfer by 26.8% during the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares in the last quarter. Finally, Fortis Capital Management LLC boosted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 634 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Up 0.7 %

Shares of Energy Transfer stock opened at $21.07 on Friday. The stock has a market capitalization of $72.14 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock’s 50-day simple moving average is $19.23 and its 200 day simple moving average is $17.28.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the company posted $0.31 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

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.