Crescent Grove Advisors LLC Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Crescent Grove Advisors LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,041 shares of the pipeline company’s stock after purchasing an additional 6,279 shares during the period. Crescent Grove Advisors LLC’s holdings in Energy Transfer were worth $7,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ET. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $29,000. Princeton Global Asset Management LLC boosted its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC raised its stake in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 729 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Energy Transfer Stock Down 0.6 %

Shares of NYSE:ET opened at $20.93 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The stock has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The firm’s 50 day moving average price is $19.39 and its 200 day moving average price is $17.34.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (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 net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given 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 6.16%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.