Atticus Wealth Management LLC Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Atticus Wealth Management LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 420.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,323 shares of the pipeline company’s stock after purchasing an additional 4,300 shares during the period. Atticus Wealth Management LLC’s holdings in Energy Transfer were worth $104,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. lifted its stake in shares of 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 buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.93 on Monday. The firm has a fifty day simple moving average of $19.39 and a two-hundred day simple moving average of $17.35. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ET. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. 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. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer 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.