FourThought Financial Partners LLC Has $867,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

FourThought Financial Partners LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 institutional investors and hedge funds have also recently bought and sold shares of ET. Activest Wealth Management lifted 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 valued at $40,000 after buying an additional 736 shares during the last quarter. Veracity Capital LLC raised its position in Energy Transfer by 2.3% during the fourth quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 738 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Energy Transfer by 42.9% in the fourth 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 last quarter. Bahl & Gaynor Inc. grew its position in Energy Transfer by 0.3% in the fourth quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock worth $3,154,000 after acquiring an additional 769 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Performance

Shares of NYSE:ET traded up $0.11 on Friday, hitting $15.89. 9,335,518 shares of the company were exchanged, compared to its average volume of 11,461,461. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The company’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $14.40. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.07. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 14.58 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The business’s 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 year.

Energy Transfer Increases Dividend

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