ArchPoint Investors Increases Position in Energy Transfer LP (NYSE:ET)

ArchPoint Investors grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 174,238 shares of the pipeline company’s stock after purchasing an additional 1,668 shares during the period. Energy Transfer makes up approximately 1.1% of ArchPoint Investors’ holdings, making the stock its 21st largest position. ArchPoint Investors’ holdings in Energy Transfer were worth $3,413,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer in the fourth quarter worth $25,000. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter worth about $29,000. United Community Bank purchased a new stake in Energy Transfer during the 4th quarter valued at about $35,000. Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC raised its holdings in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ET. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Down 9.1 %

Shares of Energy Transfer stock opened at $16.12 on Monday. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45. The company’s fifty day simple moving average is $19.18 and its 200-day simple moving average is $18.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $55.30 billion, a PE ratio of 12.59, a P/E/G ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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 analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company 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 positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.