SVB Wealth LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

SVB Wealth LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,374 shares of the pipeline company’s stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Assetmark Inc. raised 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 acquiring an additional 1,668 shares during the period. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $29,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $37,000. Citizens National Bank Trust Department purchased a new position in Energy Transfer in the fourth quarter valued at approximately $39,000. Finally, Continuum Advisory LLC grew its holdings in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ET shares. 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 note on Monday, December 9th. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted 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. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday. Finally, 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 research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Down 2.9 %

Shares of Energy Transfer stock opened at $18.49 on Wednesday. The company has a 50 day simple moving average of $19.90 and a two-hundred day simple moving average of $18.08. The firm has a market cap of $63.43 billion, a PE ratio of 14.44, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1 year low of $14.87 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.03%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 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.