Abundance Wealth Counselors bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 54,308 shares of the pipeline company's stock, valued at approximately $896,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in shares of Energy Transfer during the 3rd quarter worth about $34,000. Core Alternative Capital acquired a new position in shares of Energy Transfer in the 3rd quarter valued at $46,000. Global Wealth Strategies & Associates raised its stake in shares of Energy Transfer by 196.4% in the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company's stock valued at $49,000 after buying an additional 1,964 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company's stock valued at $50,000 after buying an additional 817 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in shares of Energy Transfer in the 3rd quarter valued at $50,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ET has been the subject of several recent analyst reports. Truist Financial initiated coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a "buy" rating and a $23.00 price objective for the company. Morgan Stanley increased their price objective on Energy Transfer from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 10th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $21.60.
View Our Latest Research Report on Energy Transfer
Energy Transfer News Roundup
Here are the key news stories impacting Energy Transfer this week:
Energy Transfer Trading Down 0.6%
ET stock opened at $18.73 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The stock has a market capitalization of $64.44 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.05 and a beta of 0.62. The business has a fifty day moving average price of $18.81 and a 200 day moving average price of $17.55. Energy Transfer LP has a fifty-two week low of $15.80 and a fifty-two week high of $19.85.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The company had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business's revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a dividend of $0.335 per share. The ex-dividend date was Friday, February 6th. This represents a $1.34 annualized dividend and a dividend yield of 7.2%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 110.74%.
About Energy Transfer
(
Free Report)
Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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