Meridian Wealth Advisors LLC Has $1.30 Million Stock Position in Energy Transfer LP (NYSE:ET)

Meridian Wealth Advisors LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,228 shares of the pipeline company’s stock after acquiring an additional 5,174 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,297,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd raised its stake in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.65 on Friday. The company has a market cap of $63.98 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.64 and a beta of 1.72. The business has a 50 day moving average price of $19.57 and a 200 day moving average price of $18.27. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective 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. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

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.