WT Wealth Management Acquires 3,151 Shares of Energy Transfer LP (NYSE:ET)

WT Wealth Management increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 38,923 shares of the pipeline company’s stock after buying an additional 3,151 shares during the period. WT Wealth Management’s holdings in Energy Transfer were worth $762,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ET. NewEdge Wealth LLC boosted its stake in shares of Energy Transfer by 0.8% in the fourth quarter. NewEdge Wealth LLC now owns 76,197 shares of the pipeline company’s stock valued at $1,493,000 after buying an additional 600 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $582,000. Checchi Capital Advisers LLC raised its position in Energy Transfer by 17.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 29,686 shares of the pipeline company’s stock valued at $582,000 after purchasing an additional 4,416 shares in the last quarter. Advisor OS LLC raised its position in Energy Transfer by 5.6% during the fourth quarter. Advisor OS LLC now owns 48,590 shares of the pipeline company’s stock valued at $952,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. raised its position in Energy Transfer by 0.9% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 478,202 shares of the pipeline company’s stock valued at $9,368,000 after purchasing an additional 4,152 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $19.15 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $65.69 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The firm’s fifty day simple moving average is $19.90 and its two-hundred day simple moving average is $17.98. Energy Transfer LP has a 12 month low of $14.52 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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%. As a group, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Analysts Set New Price Targets

ET has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Citigroup upped their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

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.