Bulltick Wealth Management LLC Invests $999,000 in Energy Transfer LP (NYSE:ET)

Bulltick Wealth Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 51,000 shares of the pipeline company's stock, valued at approximately $999,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. FMR LLC lifted its holdings in shares of Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Energy Transfer during the 4th quarter worth approximately $50,166,000. Kayne Anderson Capital Advisors LP raised its holdings in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after buying an additional 1,723,683 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $21,313,000. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

Energy Transfer stock traded up $1.07 during trading hours on Wednesday, reaching $16.88. 30,256,922 shares of the stock were exchanged, compared to its average volume of 15,501,066. The stock has a 50 day moving average of $17.57 and a two-hundred day moving average of $18.49. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. 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 company has a market cap of $57.90 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.

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 for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Energy Transfer's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.76%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 102.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

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.