59,878 Shares in Energy Transfer LP (NYSE:ET) Acquired by LMG Wealth Partners LLC

LMG Wealth Partners LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 59,878 shares of the pipeline company’s stock, valued at approximately $1,173,000.

A number of other institutional investors have also recently added to or reduced their stakes in ET. FMR LLC increased its position in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Citigroup Inc. raised its stake in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

ET opened at $20.14 on Thursday. The stock has a market cap of $68.94 billion, a PE ratio of 15.73, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 1 year low of $14.52 and a 1 year high of $21.45. The stock’s 50 day simple moving average is $19.85 and its 200-day simple moving average is $17.86. 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 announced 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 11.66%. Sell-side analysts forecast that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed 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 represents a $1.30 dividend on an annualized basis and a yield of 6.46%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Barclays increased 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. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.18.

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.