Mills Wealth Advisors LLC Has $359,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Mills Wealth Advisors LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 61.4% during the 4th quarter, Holdings Channel reports. The firm owned 18,325 shares of the pipeline company’s stock after purchasing an additional 6,970 shares during the quarter. Mills Wealth Advisors LLC’s holdings in Energy Transfer were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON raised its stake in shares of Energy Transfer by 2.8% in 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 last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Energy Transfer by 36.7% in the third 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. Finally, Citigroup Inc. boosted its position in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of several recent analyst reports. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Citigroup raised their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. 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 research report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

NYSE ET opened at $18.94 on Friday. The firm’s 50-day simple moving average is $19.91 and its two-hundred day simple moving average is $17.99. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market cap of $65.00 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

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.