Fourth Dimension Wealth LLC Takes $29,000 Position in Energy Transfer LP (NYSE:ET)

Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,500 shares of the pipeline company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the 4th quarter worth approximately $25,000. United Community Bank purchased a new stake in Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners purchased a new stake in Energy Transfer during the fourth quarter valued at about $37,000. Tortoise Investment Management LLC raised its position in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Citizens National Bank Trust Department purchased a new stake in Energy Transfer during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $17.84 on Friday. The firm’s 50-day moving average price is $17.41 and its two-hundred day moving average price is $18.60. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The stock has a market capitalization of $61.22 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.64 and a beta of 0.77. 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, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter last year, the business posted $0.32 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date was Friday, May 9th. Energy Transfer’s payout ratio is presently 99.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ET shares. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

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.