Energy Transfer LP (NYSE:ET) Shares Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,791 shares of the pipeline company’s stock after purchasing an additional 3,496 shares during the period. FourThought Financial Partners LLC’s holdings in Energy Transfer were worth $867,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ET. Activest Wealth Management grew its holdings in shares of Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 736 shares during the period. Veracity Capital LLC increased its position in shares of Energy Transfer by 2.3% in the fourth quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after acquiring an additional 738 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Energy Transfer by 42.9% in the 4th 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 period. Bahl & Gaynor Inc. lifted its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock valued at $3,154,000 after acquiring an additional 769 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Up 0.7 %

ET traded up $0.11 on Friday, reaching $15.89. The company’s stock had a trading volume of 9,335,518 shares, compared to its average volume of 11,461,461. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.07. The business’s 50 day moving average is $15.46 and its 200 day moving average is $14.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market cap of $53.54 billion, a price-to-earnings ratio of 14.58 and a beta of 1.63.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

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.