Spring Capital Management LLC Invests $572,000 in Energy Transfer LP (NYSE:ET)

Spring Capital Management 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 Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,192 shares of the pipeline company’s stock, valued at approximately $572,000.

Several other hedge funds have also recently added to or reduced their stakes in ET. TrueWealth Advisors LLC boosted its holdings in Energy Transfer by 17.2% in the 4th quarter. TrueWealth Advisors LLC now owns 16,137 shares of the pipeline company’s stock valued at $316,000 after purchasing an additional 2,371 shares during the period. Merit Financial Group LLC raised its position in shares of Energy Transfer by 103.7% during the fourth quarter. Merit Financial Group LLC now owns 66,992 shares of the pipeline company’s stock valued at $1,312,000 after buying an additional 34,105 shares during the last quarter. Walker Asset Management LLC lifted its stake in shares of Energy Transfer by 27.8% in the fourth quarter. Walker Asset Management LLC now owns 15,597 shares of the pipeline company’s stock valued at $306,000 after buying an additional 3,394 shares during the period. Yarger Wealth Strategies LLC grew its position in Energy Transfer by 3.7% during the fourth quarter. Yarger Wealth Strategies LLC now owns 20,225 shares of the pipeline company’s stock worth $396,000 after buying an additional 722 shares in the last quarter. Finally, Morton Capital Management LLC CA raised its holdings in Energy Transfer by 1.5% in the 4th quarter. Morton Capital Management LLC CA now owns 45,789 shares of the pipeline company’s stock valued at $897,000 after acquiring an additional 683 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.2 %

ET stock opened at $20.28 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The business has a fifty day moving average price of $18.96 and a 200 day moving average price of $17.16. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. Analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ET shares. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

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.