Uniting Wealth Partners LLC Takes Position in Energy Transfer LP (NYSE:ET)

Uniting Wealth Partners LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel reports. The firm bought 12,553 shares of the pipeline company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP raised its stake in shares of Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after purchasing an additional 1,723,683 shares during the last quarter. Hartree Partners LP acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $16,083,000. Strategic Financial Concepts LLC raised its holdings in Energy Transfer by 1,572.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after buying an additional 705,475 shares during the period. Mercuria Capital Strategies LLC purchased a new position in shares of Energy Transfer during the fourth quarter worth $12,734,000. Finally, Bowen Hanes & Co. Inc. purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $10,774,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.0 %

Shares of Energy Transfer stock opened at $18.92 on Thursday. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a 50-day moving average of $19.34 and a 200-day moving average of $18.43. The stock has a market cap of $64.92 billion, a PE ratio of 14.78, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its earnings results 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%. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ET shares. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Wells Fargo & Company upped 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. Morgan Stanley boosted their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

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.