Ieq Capital LLC Acquires 12,801 Shares of Energy Transfer LP (NYSE:ET)

Ieq Capital LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 211,532 shares of the pipeline company’s stock after purchasing an additional 12,801 shares during the period. Ieq Capital LLC’s holdings in Energy Transfer were worth $4,144,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at $29,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 4th quarter valued at $37,000. Finally, Continuum Advisory LLC grew its holdings in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 2.7 %

Shares of ET opened at $19.40 on Friday. The firm’s 50-day moving average price is $19.87 and its 200-day moving average price is $17.90. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.70%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ET shares. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer 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.