23,905 Shares in Energy Transfer LP (NYSE:ET) Purchased by BIP Wealth LLC

BIP Wealth LLC purchased a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,905 shares of the pipeline company's stock, valued at approximately $468,000.

A number of other large investors also recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $29,000. United Community Bank purchased a new position in Energy Transfer in the 4th quarter worth about $35,000. Financial Life Planners bought a new position in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Price Performance

Shares of NYSE:ET traded down $0.29 during trading on Tuesday, hitting $15.90. 22,933,246 shares of the company's stock were exchanged, compared to its average volume of 15,424,296. The company has a market cap of $54.56 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.64 and a beta of 0.77. The business's 50-day simple moving average is $17.57 and its 200 day simple moving average is $18.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) 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%. During the same quarter in the previous year, the business posted $0.32 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be paid a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 8.24%. The ex-dividend date is Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 102.34%.

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.