Cary Street Partners Financial LLC Takes $2.18 Million Position in Energy Transfer LP (NYSE:ET)

Cary Street Partners Financial LLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 111,426 shares of the pipeline company's stock, valued at approximately $2,183,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. Geode Capital Management LLC lifted its stake in shares of Energy Transfer by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company's stock valued at $2,028,000 after acquiring an additional 5,127 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock valued at $1,633,000 after purchasing an additional 1,248 shares during the period. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $29,000. CWA Asset Management Group LLC increased its stake in shares of Energy Transfer by 99.6% in the fourth quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company's stock worth $913,000 after buying an additional 23,249 shares during the period. Finally, Chickasaw Capital Management LLC raised its holdings in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock valued at $308,319,000 after buying an additional 388,073 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $15.90 on Wednesday. The company has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $18.49. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a market capitalization of $54.56 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.09.

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.

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