Emissary Wealth LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 55,148 shares of the pipeline company's stock, valued at approximately $909,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Busey Bank purchased a new position in Energy Transfer during the 4th quarter worth $211,000. TD Waterhouse Canada Inc. grew its stake in Energy Transfer by 18.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 18,589 shares of the pipeline company's stock worth $306,000 after buying an additional 2,900 shares during the last quarter. Jeppson Wealth Management LLC grew its stake in Energy Transfer by 64.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 32,681 shares of the pipeline company's stock worth $539,000 after buying an additional 12,817 shares during the last quarter. Forum Financial Management LP grew its stake in Energy Transfer by 322.7% during the 4th quarter. Forum Financial Management LP now owns 430,948 shares of the pipeline company's stock worth $7,106,000 after buying an additional 328,988 shares during the last quarter. Finally, ZEGA Investments LLC purchased a new position in Energy Transfer during the 4th quarter worth $926,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on ET. Barclays restated an "overweight" rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Wells Fargo & Company boosted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Morgan Stanley boosted their target price 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. TD Cowen boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Energy Transfer in a research note on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.60.
Read Our Latest Analysis on Energy Transfer
More Energy Transfer News
Here are the key news stories impacting Energy Transfer this week:
Energy Transfer Stock Down 0.1%
Energy Transfer stock opened at $18.85 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The business's 50-day simple moving average is $18.85 and its two-hundred day simple moving average is $17.58. The company has a market cap of $64.83 billion, a PE ratio of 15.57, a PEG ratio of 1.05 and a beta of 0.62. 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 posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to analysts' expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The firm's revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a $0.335 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. Energy Transfer's payout ratio is presently 110.74%.
Energy Transfer Profile
(
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.
Featured Stories
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