Tectonic Advisors LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Tectonic Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 527,348 shares of the pipeline company’s stock after purchasing an additional 38,617 shares during the period. Energy Transfer accounts for 0.7% of Tectonic Advisors LLC’s investment portfolio, making the stock its 28th largest position. Tectonic Advisors LLC’s holdings in Energy Transfer were worth $10,331,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth about $29,000. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. Financial Life Planners purchased a new stake in Energy Transfer in the 4th quarter worth approximately $37,000. Finally, Continuum Advisory LLC boosted its holdings in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $20.77 on Wednesday. The stock’s 50 day moving average price is $19.66 and its 200-day moving average price is $17.57. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The stock has a market capitalization of $71.10 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last posted its 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 firm 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 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.26%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s payout ratio is presently 95.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.