Strategic Financial Concepts LLC Acquires Shares of 42,224 Energy Transfer LP (NYSE:ET)

Strategic Financial Concepts LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,224 shares of the pipeline company’s stock, valued at approximately $664,000.

Several other hedge funds have also modified their holdings of ET. Northwest Financial Advisors acquired a new position in Energy Transfer during the 4th quarter valued at about $25,000. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC boosted its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer during the 4th quarter worth $34,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 1.6 %

Shares of NYSE ET traded down $0.25 during mid-day trading on Tuesday, reaching $15.73. 13,270,396 shares of the company’s stock were exchanged, compared to its average volume of 12,253,477. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $15.41 and a 200 day simple moving average of $14.36. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 14.43 and a beta of 1.64.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.57 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 115.60%.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Mizuho restated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.