SLT Holdings LLC Purchases New Stake in Energy Transfer LP (NYSE:ET)

SLT Holdings LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the pipeline company’s stock, valued at approximately $196,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stonegate Investment Group LLC lifted its position in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC lifted its holdings in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after acquiring an additional 535 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after acquiring an additional 547 shares during the last quarter. Finally, Platform Technology Partners lifted its holdings in shares of Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after acquiring an additional 553 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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. 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. 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. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday. Finally, Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Performance

NYSE:ET opened at $17.48 on Friday. The company has a market capitalization of $59.97 billion, a PE ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a 50 day simple moving average of $19.81 and a two-hundred day simple moving average of $18.10. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a fifty-two week low of $14.87 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last released 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 11.56%. Research 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. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.