Forum Financial Management LP Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

Forum Financial Management LP boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,394 shares of the pipeline company’s stock after acquiring an additional 2,797 shares during the quarter. Forum Financial Management LP’s holdings in Energy Transfer were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $1,297,000. Forvis Mazars Wealth Advisors LLC increased its stake in Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after buying an additional 293,088 shares during the last quarter. Wedbush Securities Inc. lifted its stake in shares of Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company’s stock worth $2,650,000 after buying an additional 41,438 shares during the period. Finally, Paragon Capital Management Ltd increased its position in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $17.24 on Friday. The stock has a market capitalization of $59.14 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.64 and a beta of 1.32. The company’s fifty day moving average price is $18.24 and its 200 day moving average price is $18.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 1 year low of $14.60 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 (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company 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. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.54%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ET. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus raised their target price 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 upped their price target 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. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.09.

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.