Financial Life Planners Acquires Shares of 1,896 Energy Transfer LP (NYSE:ET)

Financial Life Planners bought a new position in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,896 shares of the pipeline company’s stock, valued at approximately $37,000.

Several other institutional investors have also modified their holdings of the business. Sei Investments Co. increased its holdings in Energy Transfer by 77.4% during the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after purchasing an additional 20,093 shares during the last quarter. Walnut Private Equity Partners LLC raised its holdings in Energy Transfer by 0.6% in the third quarter. Walnut Private Equity Partners LLC now owns 1,947,500 shares of the pipeline company’s stock valued at $31,346,000 after acquiring an additional 12,500 shares in the last quarter. Fulton Bank N.A. raised its holdings in Energy Transfer by 26.5% in the third quarter. Fulton Bank N.A. now owns 32,172 shares of the pipeline company’s stock valued at $516,000 after acquiring an additional 6,735 shares in the last quarter. Axiom Advisory LLC grew its holdings in Energy Transfer by 3.6% during the 3rd quarter. Axiom Advisory LLC now owns 35,466 shares of the pipeline company’s stock worth $571,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Energy Transfer by 5.6% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock worth $2,209,000 after purchasing an additional 7,344 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ET. 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 research note on Monday, December 9th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. 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. Finally, Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Trading Up 1.2 %

Shares of NYSE:ET opened at $20.74 on Tuesday. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $70.99 billion, a PE ratio of 15.25, a P/E/G ratio of 0.54 and a beta of 1.69. The company’s 50-day moving average price is $19.59 and its 200 day moving average price is $17.51.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.27%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.