Adell Harriman & Carpenter Inc. Acquires 27,432 Shares of Energy Transfer LP (NYSE:ET)

Adell Harriman & Carpenter Inc. raised its holdings in Energy Transfer LP (NYSE:ET) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,079 shares of the pipeline company’s stock after buying an additional 27,432 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Energy Transfer were worth $4,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning lifted its position in Energy Transfer by 16.9% in the 3rd quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock valued at $12,777,000 after acquiring an additional 115,081 shares in the last quarter. Good Life Advisors LLC raised its stake in shares of Energy Transfer by 4.0% in the third quarter. Good Life Advisors LLC now owns 28,723 shares of the pipeline company’s stock worth $461,000 after purchasing an additional 1,092 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of Energy Transfer in the third quarter worth approximately $227,000. Ellsworth Advisors LLC boosted its position in shares of Energy Transfer by 15.7% during the third quarter. Ellsworth Advisors LLC now owns 99,532 shares of the pipeline company’s stock valued at $1,597,000 after buying an additional 13,520 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its holdings in Energy Transfer by 3.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,320 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 1,160 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group increased their target price 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. Barclays increased 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. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.98 on Friday. The firm has a market cap of $68.42 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The stock has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $17.74. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1-year low of $14.09 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 94.85%.

Energy Transfer Company 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.