Uniting Wealth Partners LLC Purchases New Position in Energy Transfer LP (NYSE:ET)

Uniting Wealth Partners LLC acquired a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,553 shares of the pipeline company’s stock, valued at approximately $246,000.

Several other large investors also recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Energy Transfer during the 4th quarter worth approximately $29,000. United Community Bank purchased a new position in Energy Transfer during the fourth quarter worth about $35,000. Financial Life Planners acquired a new position in shares of Energy Transfer during the 4th quarter worth $37,000. Finally, Tortoise Investment Management LLC boosted its position in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. Wells Fargo & Company raised their target price 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. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Up 1.0 %

NYSE ET opened at $18.92 on Thursday. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The business has a fifty day simple moving average of $19.34 and a 200 day simple moving average of $18.43. The firm has a market capitalization of $64.92 billion, a P/E ratio of 14.78, a PEG ratio of 0.64 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

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

Energy Transfer Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

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.