Energy Transfer LP (NYSE:ET) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 10.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 213,906 shares of the pipeline company’s stock after buying an additional 19,894 shares during the quarter. Apollon Wealth Management LLC’s holdings in Energy Transfer were worth $2,952,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC lifted its position in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Energy Transfer during the third quarter worth approximately $37,000. Community Bank N.A. grew its holdings in Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after buying an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Energy Transfer in the 4th quarter valued at approximately $40,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE:ET traded up $0.05 during mid-day trading on Tuesday, reaching $16.12. 11,115,903 shares of the stock were exchanged, compared to its average volume of 12,194,641. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.20. 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 firm has a market capitalization of $54.30 billion, a PE ratio of 14.80 and a beta of 1.63. The business has a fifty day moving average price of $15.49 and a 200 day moving average price of $14.42.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $0.34 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts expect that Energy Transfer LP will post 1.56 earnings per share 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 issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.87%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 115.60%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ET shares. Mizuho reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. 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 report on Thursday, February 15th. Finally, Citigroup boosted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.