Taylor & Morgan Wealth Management LLC Purchases Shares of 15,271 Energy Transfer LP (NYSE:ET)

Taylor & Morgan Wealth Management LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,271 shares of the pipeline company’s stock, valued at approximately $299,000.

Other institutional investors have also added to or reduced their stakes in the company. HB Wealth Management LLC boosted its stake in Energy Transfer by 0.6% in the fourth quarter. HB Wealth Management LLC now owns 152,529 shares of the pipeline company’s stock valued at $2,988,000 after acquiring an additional 837 shares in the last quarter. Westend Capital Management LLC lifted its stake in Energy Transfer by 2.4% during the 4th quarter. Westend Capital Management LLC now owns 748,121 shares of the pipeline company’s stock valued at $14,656,000 after acquiring an additional 17,546 shares during the period. Spring Capital Management LLC acquired a new stake in Energy Transfer during the 4th quarter worth about $572,000. TrueWealth Advisors LLC increased its holdings in Energy Transfer by 17.2% in the fourth quarter. TrueWealth Advisors LLC now owns 16,137 shares of the pipeline company’s stock valued at $316,000 after buying an additional 2,371 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Energy Transfer by 103.7% in the 4th quarter. Merit Financial Group LLC now owns 66,992 shares of the pipeline company’s stock valued at $1,312,000 after purchasing an additional 34,105 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ET. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Up 0.2 %

ET stock opened at $20.28 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market capitalization of $69.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.40. The company’s 50 day simple moving average is $19.02 and its 200-day simple moving average is $17.19.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.36%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.