Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $225,000 Position in Energy Transfer LP (NYSE:ET)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,494 shares of the pipeline company’s stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of ET. FMR LLC raised its holdings in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the last quarter. Citigroup Inc. raised its holdings in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Prospera Private Wealth LLC raised its holdings in Energy Transfer by 1,680.2% during the third quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after purchasing an additional 730,706 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Energy Transfer by 1,572.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock worth $14,699,000 after purchasing an additional 705,475 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ET. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price objective 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 lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.48 on Friday. The company has a market cap of $59.97 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72. 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 52 week low of $14.87 and a 52 week high of $21.45. The business has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $18.10.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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%. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.44%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio 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.