Leo Wealth LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Leo Wealth LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 7.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 40,310 shares of the pipeline company’s stock after acquiring an additional 2,735 shares during the period. Leo Wealth LLC’s holdings in Energy Transfer were worth $790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings 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. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. Financial Life Planners acquired a new stake in shares of Energy Transfer in the fourth quarter worth approximately $37,000. Finally, Continuum Advisory LLC increased its position in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET stock opened at $19.92 on Friday. The business has a fifty day moving average of $19.71 and a two-hundred day moving average of $17.61. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $68.19 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. Energy Transfer LP has a 52-week low of $13.80 and a 52-week high of $21.45.

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 for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. Energy Transfer’s payout ratio is presently 94.85%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ET shares. Royal Bank of Canada raised 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. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their price objective 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. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Company 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.