Energy Transfer LP (NYSE:ET) Shares Purchased by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 0.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,479,818 shares of the pipeline company’s stock after acquiring an additional 615 shares during the period. Energy Transfer comprises 24.4% of Garrett Wealth Advisory Group LLC’s investment portfolio, making the stock its biggest holding. Garrett Wealth Advisory Group LLC’s holdings in Energy Transfer were worth $107,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in 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 acquiring an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON boosted its holdings in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the last quarter. BNP Paribas Financial Markets grew its position 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 worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. grew its position in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 2.0 %

Shares of ET opened at $19.32 on Monday. The firm has a market cap of $66.27 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business has a 50-day moving average of $19.92 and a 200 day moving average of $18.04.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.73%. Energy Transfer’s payout ratio is presently 101.56%.

Analysts Set New Price Targets

ET has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

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.