Old North State Wealth Management LLC Has $5.74 Million Holdings in Energy Transfer LP (NYSE:ET)

Old North State Wealth Management LLC lessened its position in Energy Transfer LP (NYSE:ET) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,936 shares of the pipeline company’s stock after selling 4,615 shares during the period. Energy Transfer comprises 3.2% of Old North State Wealth Management LLC’s portfolio, making the stock its 6th largest holding. Old North State Wealth Management LLC’s holdings in Energy Transfer were worth $5,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ET. Stonegate Investment Group LLC lifted its position in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC lifted its holdings in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after buying an additional 511 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 561 shares during the period. Finally, Financial Freedom LLC increased its position in Energy Transfer by 26.8% during the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on shares of 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 boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. 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, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.0 %

ET stock opened at $20.77 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm’s fifty day simple moving average is $19.63 and its 200-day simple moving average is $17.54. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. The company has a market capitalization of $71.10 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during 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 revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.36 earnings per share 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 dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend 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.