LMG Wealth Partners LLC Invests $1.17 Million in Energy Transfer LP (NYSE:ET)

LMG Wealth Partners LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 59,878 shares of the pipeline company’s stock, valued at approximately $1,173,000.

A number of other hedge funds have also made changes to their positions in the stock. Princeton Global Asset Management LLC boosted its stake in 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 valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC bought a new position in Energy Transfer during the fourth quarter valued at about $29,000. Financial Life Planners acquired a new position in Energy Transfer during the fourth quarter worth about $37,000. Finally, Continuum Advisory LLC raised its position in Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.8 %

Shares of Energy Transfer stock opened at $20.14 on Thursday. Energy Transfer LP has a 1 year low of $14.52 and a 1 year high of $21.45. The company has a market cap of $68.94 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $19.85 and a 200 day moving average price of $17.86.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, analysts expect that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ET. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.18.

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.