Michels Family Financial LLC Takes $502,000 Position in Energy Transfer LP (NYSE:ET)

Michels Family Financial LLC bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,638 shares of the pipeline company's stock, valued at approximately $502,000.

Other large investors have also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after purchasing an additional 37,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock worth $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after purchasing an additional 41,438 shares during the last quarter. FFG Partners LLC grew its holdings in shares of Energy Transfer by 0.9% during the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after purchasing an additional 13,948 shares during the last quarter. Finally, Greenland Capital Management LP purchased a new position in shares of Energy Transfer during the fourth quarter worth about $2,253,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

NYSE:ET traded up $0.07 during mid-day trading on Tuesday, reaching $17.92. The stock had a trading volume of 8,270,799 shares, compared to its average volume of 15,459,328. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $61.50 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The business has a 50 day simple moving average of $17.39 and a 200 day simple moving average of $18.61.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.31%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Analyst Ratings Changes

ET has been the topic of several research reports. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Mizuho raised their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price 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.