Wedbush Securities Inc. Has $2.65 Million Stock Position in Energy Transfer LP (NYSE:ET)

Wedbush Securities Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 44.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,281 shares of the pipeline company’s stock after buying an additional 41,438 shares during the quarter. Wedbush Securities Inc.’s holdings in Energy Transfer were worth $2,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $29,000. United Community Bank bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC increased its stake in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Down 9.1 %

Shares of ET opened at $16.12 on Friday. The firm has a market cap of $55.30 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business has a 50-day moving average of $19.18 and a 200 day moving average of $18.44. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts forecast that Energy Transfer LP will post 1.46 EPS 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 issued a dividend of $0.325 per share. 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. This represents a $1.30 annualized dividend and a yield of 8.07%. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. The Goldman Sachs Group boosted 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. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have assigned 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 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.