Leo Wealth LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Leo Wealth LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 7.3% in the 4th quarter, HoldingsChannel reports. The firm owned 40,310 shares of the pipeline company’s stock after purchasing an additional 2,735 shares during the quarter. Leo Wealth LLC’s holdings in Energy Transfer were worth $790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $29,000. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. Financial Life Planners purchased a new position in Energy Transfer in the fourth quarter worth approximately $37,000. Finally, Continuum Advisory LLC grew its holdings in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ET. Wells Fargo & Company raised their price objective 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. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped 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. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Barclays upped 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. 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 has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

Shares of ET opened at $19.92 on Friday. The company’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $17.61. The firm has a market cap of $68.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. Energy Transfer LP has a 12-month low of $13.80 and a 12-month high of $21.45. 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 (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the business posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.53%. The ex-dividend date is Friday, February 7th. This is a boost 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.