Waverly Advisors LLC Buys 138,231 Shares of Energy Transfer LP (NYSE:ET)

Waverly Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 383,164 shares of the pipeline company's stock after acquiring an additional 138,231 shares during the quarter. Waverly Advisors LLC's holdings in Energy Transfer were worth $7,506,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ET. Bank of Montreal Can raised its holdings in shares of Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after buying an additional 12,353,441 shares during the last quarter. FMR LLC raised its holdings in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after buying an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Energy Transfer in the fourth quarter valued at about $79,113,000. Hsbc Holdings PLC bought a new position in shares of Energy Transfer in the fourth quarter valued at about $50,166,000. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after buying an additional 2,512,060 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Mizuho lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday. Wells Fargo & Company lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Price Performance

Energy Transfer stock opened at $18.12 on Wednesday. The firm has a market capitalization of $62.17 billion, a P/E ratio of 14.16, a PEG ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The business has a 50-day moving average of $17.47 and a 200-day moving average of $18.58. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced 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 is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.23%. The ex-dividend date was Friday, May 9th. Energy Transfer's payout ratio is presently 99.24%.

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.

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