109,500 Shares in Energy Transfer LP (NYSE:ET) Purchased by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 109,500 shares of the pipeline company's stock, valued at approximately $2,143,000. Energy Transfer accounts for approximately 2.1% of Alpha Wealth Funds LLC's holdings, making the stock its 8th biggest position.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Energy Transfer by 1.7% in the 4th quarter. Flagship Harbor Advisors LLC now owns 36,381 shares of the pipeline company's stock valued at $713,000 after buying an additional 617 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Energy Transfer by 20.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 16,872 shares of the pipeline company's stock valued at $331,000 after buying an additional 2,857 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Energy Transfer by 12.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 34,004 shares of the pipeline company's stock valued at $666,000 after acquiring an additional 3,775 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in Energy Transfer by 5.6% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 98,977 shares of the pipeline company's stock valued at $1,939,000 after acquiring an additional 5,225 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of NYSE ET traded down $0.09 during trading hours on Thursday, hitting $17.67. 9,287,953 shares of the company's stock were exchanged, compared to its average volume of 15,423,939. The company's 50-day moving average price is $17.36 and its 200-day moving average price is $18.60. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market capitalization of $60.64 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. On average, sell-side 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. Shareholders of record on Friday, May 9th were issued a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.41%. Energy Transfer's dividend payout ratio is 99.24%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer 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.