Wealthspire Advisors LLC Buys 535 Shares of Energy Transfer LP (NYSE:ET)

Wealthspire Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 130,202 shares of the pipeline company’s stock after acquiring an additional 535 shares during the quarter. Wealthspire Advisors LLC’s holdings in Energy Transfer were worth $2,551,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the period. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares during the period. Brookfield Corp ON boosted its holdings in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after buying an additional 352,625 shares during the period. BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $19.40 on Monday. The company has a 50 day moving average of $19.87 and a 200-day moving average of $17.93. The company has a market cap of $66.55 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. 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 (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.70%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

Analysts Set New Price Targets

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

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.