IFP Advisors Inc Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

IFP Advisors Inc boosted its position in shares of Energy Transfer LP (NYSE:ET) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 634,469 shares of the pipeline company’s stock after acquiring an additional 6,665 shares during the quarter. IFP Advisors Inc’s holdings in Energy Transfer were worth $12,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth $29,000. Princeton Global Asset Management LLC grew its position in shares of 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 valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. Financial Life Planners purchased a new position in shares of Energy Transfer in the 4th quarter worth $37,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Energy Transfer in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ET shares. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Stock Down 2.7 %

Energy Transfer stock opened at $19.40 on Monday. The business has a fifty day moving average of $19.87 and a two-hundred day moving average of $17.93. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a market cap of $66.55 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a twelve month low of $14.52 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.70%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.