Waverly Advisors LLC Has $7.51 Million Position in Energy Transfer LP (NYSE:ET)

Waverly Advisors LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 56.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,164 shares of the pipeline company’s stock after purchasing an additional 138,231 shares during the period. Waverly Advisors LLC’s holdings in Energy Transfer were worth $7,506,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the 4th quarter valued at about $25,000. United Community Bank bought a new position in shares of Energy Transfer during the 4th quarter valued at about $35,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 4th quarter valued at about $37,000. Tortoise Investment Management LLC lifted its holdings in shares of Energy Transfer by 111.1% during 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 in the last quarter. Finally, Citizens National Bank Trust Department bought a new position in shares of Energy Transfer during the 4th quarter valued at about $39,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ET. Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. cut their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Energy Transfer Trading Up 0.7%

Shares of Energy Transfer stock opened at $18.12 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The stock has a market cap of $62.17 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.64 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $17.47 and its 200-day moving average is $18.58.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.23%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 99.24%.

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.