Michels Family Financial LLC Acquires New Holdings in Energy Transfer LP (NYSE:ET)

Michels Family Financial LLC purchased a new position in Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 25,638 shares of the pipeline company's stock, valued at approximately $502,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer in the fourth quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer in the 4th quarter worth about $29,000. United Community Bank bought a new stake in Energy Transfer in the fourth quarter worth about $35,000. Financial Life Planners bought a new stake in Energy Transfer in the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 0.6%

NYSE:ET traded down $0.12 on Wednesday, reaching $17.84. 3,735,997 shares of the company's stock were exchanged, compared to its average volume of 15,413,487. The business has a fifty day moving average of $17.37 and a 200-day moving average of $18.61. The firm has a market capitalization of $61.21 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. 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 announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.35%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is currently 99.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 target price 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 note on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.64.

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.