Pathstone Holdings LLC Acquires 25,909 Shares of Energy Transfer LP (NYSE:ET)

Pathstone Holdings LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,356 shares of the pipeline company's stock after purchasing an additional 25,909 shares during the period. Pathstone Holdings LLC's holdings in Energy Transfer were worth $16,110,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stonegate Investment Group LLC raised its position in Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after buying an additional 482 shares during the last quarter. Wealthspire Advisors LLC raised its position in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after buying an additional 535 shares during the last quarter. Cannell & Spears LLC raised its position in Energy Transfer by 0.4% in the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after buying an additional 546 shares during the last quarter. Daymark Wealth Partners LLC raised its position in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock valued at $3,148,000 after buying an additional 547 shares during the last quarter. Finally, Platform Technology Partners raised its position in Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock valued at $1,318,000 after buying an additional 553 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Up 0.2%

ET stock opened at $18.03 on Thursday. The stock's fifty day simple moving average is $17.46 and its two-hundred day simple moving average is $18.52. 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 LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $61.86 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for 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 business's revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. 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 7.27%. Energy Transfer's dividend payout ratio is 99.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ET shares. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company dropped their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $22.09.

About Energy Transfer

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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