Mission Wealth Management LP Boosts Position in Energy Transfer LP (NYSE:ET)

Mission Wealth Management LP grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,759 shares of the pipeline company’s stock after buying an additional 1,429 shares during the quarter. Mission Wealth Management LP’s holdings in Energy Transfer were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ET. Rise Advisors LLC raised its holdings in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the period. Harbor Investment Advisory LLC grew its position in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Community Bank N.A. raised its stake in shares of Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Energy Transfer during the third quarter worth $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.8 %

NYSE:ET opened at $15.90 on Friday. The company has a market cap of $53.57 billion, a PE ratio of 14.59 and a beta of 1.63. The business’s 50 day moving average is $15.44 and its two-hundred day moving average is $14.38. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 52 week low of $12.18 and a 52 week high of $16.07.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.97%. Energy Transfer’s dividend payout ratio is 115.60%.

Analyst Ratings Changes

A number of equities analysts have commented on ET shares. Citigroup boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group reduced their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Finally, Mizuho restated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.