Perigon Wealth Management LLC Has $497,000 Stake in Energy Transfer LP (NYSE:ET)

Perigon Wealth Management LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 18.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,019 shares of the pipeline company’s stock after purchasing an additional 5,586 shares during the quarter. Perigon Wealth Management LLC’s holdings in Energy Transfer were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mutual Advisors LLC increased its stake in Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after buying an additional 77,938 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after buying an additional 513,989 shares during the period. Arkadios Wealth Advisors raised its position in Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after acquiring an additional 903 shares during the period. Fractal Investments LLC grew its position in shares of Energy Transfer by 12.9% during the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after acquiring an additional 647,885 shares during the period. Finally, Cutter & CO Brokerage Inc. lifted its stake in Energy Transfer by 22.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock valued at $5,912,000 after purchasing an additional 77,352 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $17.57.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $15.22 on Tuesday. The business has a fifty day moving average price of $15.08 and a 200-day moving average price of $14.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market capitalization of $51.27 billion, a PE ratio of 13.96 and a beta of 1.64. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.315 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.