Daymark Wealth Partners LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Daymark Wealth Partners LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,678 shares of the pipeline company’s stock after buying an additional 547 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Energy Transfer were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its position in shares of 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 buying an additional 650 shares in the last quarter. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new stake in Energy Transfer during the second quarter worth approximately $33,000. Finally, Continuum Advisory LLC raised its position in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $20.90 on Wednesday. The firm has a 50 day moving average of $19.16 and a two-hundred day moving average of $17.26. The firm has a market capitalization of $71.54 billion, a PE ratio of 15.36, a P/E/G ratio of 0.53 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12-month low of $13.78 and a 12-month high of $21.02.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.17%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. 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. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $20.82.

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.