Energy Transfer LP (NYSE:ET) Stock Holdings Lifted by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 374,374 shares of the pipeline company’s stock after acquiring an additional 11,833 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Energy Transfer were worth $7,334,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meridian Wealth Management LLC boosted its position in shares of Energy Transfer by 1.8% in the 4th quarter. Meridian Wealth Management LLC now owns 109,516 shares of the pipeline company’s stock valued at $2,145,000 after purchasing an additional 1,989 shares during the period. Mission Wealth Management LP lifted its stake in Energy Transfer by 5.3% during the fourth quarter. Mission Wealth Management LP now owns 52,028 shares of the pipeline company’s stock valued at $1,019,000 after buying an additional 2,612 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of Energy Transfer by 31.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 41,960 shares of the pipeline company’s stock worth $871,000 after buying an additional 10,102 shares during the period. Jones Financial Companies Lllp increased its position in shares of Energy Transfer by 16.6% in the fourth quarter. Jones Financial Companies Lllp now owns 308,278 shares of the pipeline company’s stock worth $6,039,000 after acquiring an additional 43,899 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Energy Transfer by 8.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 34,294 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 2,683 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $18.21 on Thursday. The stock has a market capitalization of $62.47 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The business’s fifty day moving average price is $19.87 and its two-hundred day moving average price is $18.08. Energy Transfer LP has a fifty-two week low of $14.87 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.14%. Energy Transfer’s dividend payout ratio is 101.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $21.55.

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.