Sagespring Wealth Partners LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Sagespring Wealth Partners LLC acquired a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,442 shares of the pipeline company’s stock, valued at approximately $381,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $25,000. GAMMA Investing LLC acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank purchased a new position in Energy Transfer in the fourth quarter worth approximately $35,000. Financial Life Planners acquired a new position in Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Tortoise Investment Management LLC increased its position in shares of 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 purchasing an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET stock opened at $17.10 on Wednesday. The business has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $18.43. The company has a market capitalization of $58.69 billion, a P/E ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. 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 issued its quarterly 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%. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.60%. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ET. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

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.