Meriwether Wealth & Planning LLC Buys Shares of 44,166 Energy Transfer LP (NYSE:ET)

Meriwether Wealth & Planning LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 44,166 shares of the pipeline company’s stock, valued at approximately $865,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SLT Holdings LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at $196,000. Jackson Hole Capital Partners LLC grew its holdings in shares of Energy Transfer by 1.2% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 203,924 shares of the pipeline company’s stock valued at $3,995,000 after buying an additional 2,387 shares in the last quarter. United Community Bank purchased a new position in shares of Energy Transfer during the fourth quarter valued at $35,000. Marble Harbor Investment Counsel LLC grew its holdings in shares of Energy Transfer by 19.1% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 18,825 shares of the pipeline company’s stock valued at $369,000 after buying an additional 3,025 shares in the last quarter. Finally, Intellectus Partners LLC grew its holdings in shares of Energy Transfer by 4.7% during the fourth quarter. Intellectus Partners LLC now owns 112,409 shares of the pipeline company’s stock valued at $2,202,000 after buying an additional 5,087 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ET. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup lifted their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Price Performance

ET opened at $17.48 on Monday. The stock has a market cap of $59.97 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1 year low of $14.87 and a 1 year high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $19.81 and a 200 day moving average price of $18.12.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results 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 return on equity of 11.56% and a net margin of 5.74%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared 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 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 a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

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.