Royal Fund Management LLC Grows Position in Energy Transfer LP (NYSE:ET)

Royal Fund Management LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,941 shares of the pipeline company’s stock after purchasing an additional 4,770 shares during the period. Royal Fund Management LLC’s holdings in Energy Transfer were worth $1,379,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ET. Mutual Advisors LLC boosted its holdings in shares of Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after acquiring an additional 77,938 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Energy Transfer by 3.3% in the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 903 shares during the period. Fractal Investments LLC lifted its stake in shares of Energy Transfer by 12.9% in the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after purchasing an additional 647,885 shares during the period. Finally, Cutter & CO Brokerage Inc. lifted its stake in shares of Energy Transfer by 22.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock valued at $5,912,000 after purchasing an additional 77,352 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ET. UBS Group decreased their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Mizuho reiterated a “buy” rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Price Performance

NYSE:ET traded up $0.11 during trading hours on Friday, reaching $15.89. 9,335,518 shares of the company were exchanged, compared to its average volume of 11,461,461. 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 stock’s 50-day moving average is $15.46 and its 200-day moving average is $14.39. The firm has a market cap of $53.54 billion, a PE ratio of 14.58 and a beta of 1.63. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.98%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s dividend payout ratio is 115.60%.

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.