Meridian Wealth Advisors LLC Acquires 5,174 Shares of Energy Transfer LP (NYSE:ET)

Meridian Wealth Advisors LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 66,228 shares of the pipeline company’s stock after buying an additional 5,174 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at $29,000. United Community Bank acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners bought a new position in Energy Transfer during the 4th quarter valued at about $37,000. Tortoise Investment Management LLC boosted its position in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Finally, Citizens National Bank Trust Department bought a new stake in Energy Transfer during the fourth quarter worth about $39,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $18.65 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $63.98 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The stock’s 50-day moving average price is $19.57 and its two-hundred day moving average price is $18.27. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (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%. On average, equities analysts predict 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. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.97%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ET. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. 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. Citigroup increased their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

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.