Energy Transfer LP $ET is Sullivan Wood Capital Management LLC’s 8th Largest Position

Sullivan Wood Capital Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 126.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,851 shares of the pipeline company’s stock after acquiring an additional 81,535 shares during the period. Energy Transfer makes up 3.6% of Sullivan Wood Capital Management LLC’s portfolio, making the stock its 8th biggest position. Sullivan Wood Capital Management LLC’s holdings in Energy Transfer were worth $2,405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new stake in Energy Transfer during the 3rd quarter worth $34,000. Core Alternative Capital purchased a new position in Energy Transfer in the third quarter valued at about $46,000. Global Wealth Strategies & Associates raised its position in Energy Transfer by 196.4% in the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock valued at $49,000 after purchasing an additional 1,964 shares during the period. FSC Wealth Advisors LLC acquired a new position in shares of Energy Transfer during the second quarter worth about $50,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Energy Transfer by 38.9% in the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after buying an additional 817 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2%

Shares of Energy Transfer stock opened at $18.96 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.85. The company has a market capitalization of $65.23 billion, a PE ratio of 15.67, a P/E/G ratio of 1.06 and a beta of 0.62. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The business has a 50-day moving average of $18.70 and a 200-day moving average of $17.47.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ET. TD Cowen increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Morgan Stanley boosted their price target on Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 10th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.