Thoroughbred Financial Services LLC Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Thoroughbred Financial Services LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,183 shares of the pipeline company’s stock after buying an additional 628 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Energy Transfer were worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Uniting Wealth Partners LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $246,000. Arete Wealth Advisors LLC raised its holdings in Energy Transfer by 13.2% in the 4th quarter. Arete Wealth Advisors LLC now owns 38,539 shares of the pipeline company’s stock valued at $755,000 after buying an additional 4,486 shares during the period. World Investment Advisors lifted its position in Energy Transfer by 11.4% in the fourth quarter. World Investment Advisors now owns 87,753 shares of the pipeline company’s stock valued at $1,719,000 after buying an additional 8,947 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in Energy Transfer by 25.4% during the fourth quarter. Nicolet Advisory Services LLC now owns 24,952 shares of the pipeline company’s stock worth $485,000 after buying an additional 5,052 shares during the period. Finally, Disciplined Investors L.L.C. acquired a new stake in shares of Energy Transfer during the fourth quarter valued at about $304,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ET. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley boosted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.12 on Monday. The stock has a market cap of $55.30 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a fifty day simple moving average of $19.18 and a 200-day simple moving average of $18.46. 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 LP has a 12-month low of $14.90 and a 12-month high of $21.45.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.07%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

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.