Sagespring Wealth Partners LLC Acquires Shares of 19,442 Energy Transfer LP (NYSE:ET)

Sagespring Wealth Partners LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,442 shares of the pipeline company’s stock, valued at approximately $381,000.

Several other hedge funds also recently made changes to their positions in ET. Bank of Montreal Can raised its holdings in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC lifted its holdings in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after buying an additional 1,723,683 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Energy Transfer by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock valued at $228,470,000 after buying an additional 1,058,603 shares in the last quarter. Finally, Hartree Partners LP acquired a new position in Energy Transfer during the fourth quarter worth $16,083,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $17.10 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm has a market cap of $58.69 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company’s 50-day moving average is $18.41 and its two-hundred day moving average is $18.43. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.60%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ET. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. 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, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

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.