Energy Transfer LP (NYSE:ET) Position Increased by Hardy Reed LLC

Hardy Reed LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,840 shares of the pipeline company’s stock after purchasing an additional 1,420 shares during the period. Hardy Reed LLC’s holdings in Energy Transfer were worth $780,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the fourth quarter valued at $29,000. Princeton Global Asset Management LLC boosted its holdings 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 valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. boosted its holdings in shares of Energy Transfer by 2,138.5% during 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 during the period. Financial Life Planners acquired a new position in shares of Energy Transfer during the fourth quarter valued at $37,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Energy Transfer during the fourth quarter valued at $41,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $20.14 on Thursday. Energy Transfer LP has a twelve month low of $14.52 and a twelve 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. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.52 and a beta of 1.69. The firm has a 50-day moving average of $19.85 and a two-hundred day moving average of $17.86.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, analysts expect that Energy Transfer LP will post 1.47 earnings per share for the current fiscal 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 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Ratings Changes

ET has been the subject of several analyst reports. The Goldman Sachs Group boosted 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. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.