TrueWealth Advisors LLC Has $316,000 Holdings in Energy Transfer LP (NYSE:ET)

TrueWealth Advisors LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 17.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,137 shares of the pipeline company’s stock after purchasing an additional 2,371 shares during the quarter. TrueWealth Advisors LLC’s holdings in Energy Transfer were worth $316,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of 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 purchasing an additional 10,195,768 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after acquiring an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after acquiring an additional 388,073 shares in the last quarter. Brookfield Corp ON raised its position in shares of Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the period. Finally, BNP Paribas Financial Markets lifted 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 purchasing an additional 3,106,631 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $20.28 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a 50 day moving average price of $18.96 and a 200 day moving average price of $17.16. The stock has a market capitalization of $69.45 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 52 week low of $13.60 and a 52 week high of $20.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analyst Ratings Changes

ET has been the subject of a number of research reports. 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 research note on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer 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.