Partners Wealth Management LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Partners Wealth Management LLC purchased a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,685 shares of the pipeline company’s stock, valued at approximately $209,000.

Other hedge funds also recently modified their holdings of the company. Delap Wealth Advisory LLC grew its holdings in Energy Transfer by 6.8% during the 4th quarter. Delap Wealth Advisory LLC now owns 14,161 shares of the pipeline company’s stock worth $277,000 after acquiring an additional 901 shares during the last quarter. MONECO Advisors LLC lifted its holdings in shares of Energy Transfer by 11.3% during the fourth quarter. MONECO Advisors LLC now owns 44,449 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 4,502 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after purchasing an additional 37,633 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after purchasing an additional 535 shares during the last quarter. Finally, Oxbow Advisors LLC increased its holdings in Energy Transfer by 0.3% in the fourth quarter. Oxbow Advisors LLC now owns 471,336 shares of the pipeline company’s stock valued at $9,233,000 after purchasing an additional 1,416 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $19.40 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a twelve month low of $14.52 and a twelve month high of $21.45. The company has a fifty day moving average of $19.87 and a 200-day moving average of $17.93. The firm has a market capitalization of $66.55 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company lifted 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. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.