Energy Transfer LP (NYSE:ET) Position Lifted by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,374 shares of the pipeline company’s stock after acquiring an additional 11,833 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Energy Transfer were worth $7,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC grew its position in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after acquiring an additional 388,073 shares in the last quarter. Brookfield Corp ON increased its holdings in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.4 %

NYSE:ET opened at $18.21 on Thursday. The stock has a market cap of $62.47 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 1 year low of $14.87 and a 1 year high of $21.45. The business has a fifty day moving average of $19.87 and a 200-day moving average of $18.08.

Energy Transfer (NYSE:ET) last released its earnings results 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%. Equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 7.14%. Energy Transfer’s payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ET. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Citigroup raised their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. 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. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer 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.