Energy Transfer LP (NYSE:ET) Position Boosted by Morton Capital Management LLC CA

Morton Capital Management LLC CA grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,789 shares of the pipeline company’s stock after acquiring an additional 683 shares during the quarter. Morton Capital Management LLC CA’s holdings in Energy Transfer were worth $897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Carnegie Investment Counsel bought a new position in shares of Energy Transfer in the fourth quarter valued at approximately $246,000. Sanders Morris Harris LLC lifted its position in Energy Transfer by 22.5% in the fourth quarter. Sanders Morris Harris LLC now owns 87,198 shares of the pipeline company’s stock worth $1,694,000 after purchasing an additional 16,000 shares during the period. Paragon Capital Management Ltd boosted its stake in Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares in the last quarter. Connective Portfolio Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at $1,175,000. Finally, Burney Co. raised its stake in shares of Energy Transfer by 3.1% in the 4th quarter. Burney Co. now owns 67,618 shares of the pipeline company’s stock worth $1,325,000 after buying an additional 2,058 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.0 %

Energy Transfer stock opened at $20.24 on Friday. Energy Transfer LP has a 52 week low of $13.60 and a 52 week high of $20.32. 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 firm has a market capitalization of $69.28 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a 50 day moving average price of $18.90 and a 200 day moving average price of $17.14.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.38%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Upgrades and Downgrades

ET has been the subject of several research reports. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group boosted 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. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company upped 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target 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.