Walker Asset Management LLC Increases Stock Position in Energy Transfer LP (NYSE:ET)

Walker Asset Management LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 27.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,597 shares of the pipeline company’s stock after purchasing an additional 3,394 shares during the period. Walker Asset Management LLC’s holdings in Energy Transfer were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT lifted its holdings in Energy Transfer by 25.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 12,990 shares of the pipeline company’s stock valued at $211,000 after acquiring an additional 2,600 shares during the period. Blair William & Co. IL increased its position in shares of Energy Transfer by 9.2% during the 2nd quarter. Blair William & Co. IL now owns 449,772 shares of the pipeline company’s stock valued at $7,295,000 after purchasing an additional 37,927 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Energy Transfer in the 2nd quarter worth approximately $290,000. Ieq Capital LLC boosted its holdings in shares of Energy Transfer by 8.0% in the second quarter. Ieq Capital LLC now owns 197,856 shares of the pipeline company’s stock worth $3,209,000 after buying an additional 14,728 shares during the last quarter. Finally, GM Advisory Group LLC grew its position in Energy Transfer by 18.2% during the second quarter. GM Advisory Group LLC now owns 18,400 shares of the pipeline company’s stock valued at $298,000 after buying an additional 2,834 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock 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 company’s fifty day moving average price is $18.96 and its 200-day moving average price is $17.16. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.40. The company 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 (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. On average, equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ET. Royal Bank of Canada lifted their price target 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. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.