CIBC Private Wealth Group LLC Boosts Position in Energy Transfer LP (NYSE:ET)

CIBC Private Wealth Group LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,518,334 shares of the pipeline company’s stock after acquiring an additional 20,096 shares during the quarter. CIBC Private Wealth Group LLC owned 0.39% of Energy Transfer worth $266,717,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Stonegate Investment Group LLC grew its position in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC grew its holdings in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the period. Wealthspire Advisors LLC raised its position in Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after acquiring an additional 535 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares during the period. Finally, Platform Technology Partners boosted its position in Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley upped their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 0.9 %

Shares of NYSE:ET opened at $18.72 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $64.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The firm’s 50-day moving average is $19.46 and its two-hundred day moving average is $18.37. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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 predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

About Energy Transfer

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.