AssuredPartners Investment Advisors LLC Acquires Shares of 13,861 Energy Transfer LP (NYSE:ET)

AssuredPartners Investment Advisors LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,861 shares of the pipeline company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its holdings in Energy Transfer by 57.0% during the 3rd 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. Cerity Partners LLC lifted its holdings in shares of Energy Transfer by 29.1% in the third quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock worth $3,893,000 after buying an additional 54,611 shares in the last quarter. FMR LLC boosted its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. D.A. Davidson & CO. grew its stake in Energy Transfer by 4.6% during the third quarter. D.A. Davidson & CO. now owns 275,483 shares of the pipeline company’s stock valued at $4,422,000 after acquiring an additional 12,146 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Energy Transfer by 3.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 805,159 shares of the pipeline company’s stock worth $12,923,000 after acquiring an additional 24,375 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.72 on Friday. The company’s fifty day moving average is $19.46 and its 200 day moving average is $18.36. 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 LP has a 52 week low of $14.90 and a 52 week high of $21.45. The stock has a market cap of $64.22 billion, a PE ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is presently 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.