Energy Transfer LP (NYSE:ET) Shares Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,516 shares of the pipeline company’s stock after buying an additional 1,989 shares during the quarter. Meridian Wealth Management LLC’s holdings in Energy Transfer were worth $2,145,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the period. Financial Life Planners acquired a new position in Energy Transfer in the 4th quarter worth $37,000. Finally, Citizens National Bank Trust Department purchased a new position in Energy Transfer in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. Citigroup lifted their target price on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays upped their price target 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. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Down 1.3 %

NYSE ET opened at $19.04 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a one year low of $14.87 and a one year high of $21.45. The company has a 50-day simple moving average of $19.92 and a 200-day simple moving average of $18.07. The firm has a market capitalization of $65.33 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS 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%. On average, equities analysts forecast 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 given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.83%. Energy Transfer’s dividend payout ratio (DPR) is currently 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.