Wedbush Securities Inc. Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Wedbush Securities Inc. raised its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 44.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,281 shares of the pipeline company's stock after acquiring an additional 41,438 shares during the quarter. Wedbush Securities Inc.'s holdings in Energy Transfer were worth $2,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer in the fourth quarter valued at about $29,000. United Community Bank acquired a new stake in Energy Transfer in the fourth quarter worth about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC increased its holdings in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ET shares. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Price Performance

Shares of ET stock traded down $0.51 during mid-day trading on Wednesday, hitting $15.14. 14,442,215 shares of the stock were exchanged, compared to its average volume of 15,047,517. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a fifty day moving average of $18.90 and a 200 day moving average of $18.43. The company has a market cap of $51.94 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 8.59%. The ex-dividend date was Friday, February 7th. Energy Transfer's payout ratio is currently 101.56%.

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.