2,603 Shares in Energy Transfer LP (NYSE:ET) Bought by EdgeRock Capital LLC

EdgeRock Capital LLC bought a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,603 shares of the pipeline company’s stock, valued at approximately $37,000.

Several other institutional investors have also recently bought and sold shares of the business. Apollon Wealth Management LLC increased its holdings in shares of Energy Transfer by 10.3% during the fourth quarter. Apollon Wealth Management LLC now owns 213,906 shares of the pipeline company’s stock worth $2,952,000 after buying an additional 19,894 shares in the last quarter. Lincoln National Corp increased its holdings in Energy Transfer by 5.7% in the 4th quarter. Lincoln National Corp now owns 208,247 shares of the pipeline company’s stock worth $2,874,000 after purchasing an additional 11,279 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Energy Transfer by 8.5% in the fourth quarter. Maryland State Retirement & Pension System now owns 2,461,055 shares of the pipeline company’s stock valued at $33,963,000 after purchasing an additional 192,154 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Energy Transfer by 9.4% during the fourth quarter. Private Advisor Group LLC now owns 417,947 shares of the pipeline company’s stock valued at $5,768,000 after purchasing an additional 35,999 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Energy Transfer by 6.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 157,470 shares of the pipeline company’s stock valued at $2,173,000 after purchasing an additional 9,698 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho reiterated a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup upped their price target 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. Finally, UBS Group cut their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Trading Up 0.7 %

Energy Transfer stock traded up $0.12 during mid-day trading on Wednesday, hitting $16.25. 15,022,553 shares of the stock were exchanged, compared to its average volume of 12,223,760. The stock has a market capitalization of $54.74 billion, a price-to-earnings ratio of 14.90 and a beta of 1.63. Energy Transfer LP has a 12 month low of $12.18 and a 12 month high of $16.27. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The firm’s fifty day simple moving average is $15.52 and its two-hundred day simple moving average is $14.43.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping 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 business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter last year, the firm earned $0.34 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.81%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 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.