Byrne Asset Management LLC Takes Position in Energy Transfer LP (NYSE:ET)

Byrne Asset Management LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,400 shares of the pipeline company’s stock, valued at approximately $47,000.

Several other institutional investors also recently added to or reduced their stakes in ET. Atomi Financial Group Inc. increased its holdings in shares of Energy Transfer by 11.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock valued at $527,000 after acquiring an additional 3,472 shares during the period. Brookstone Capital Management raised its holdings in shares of Energy Transfer by 5.2% in the third quarter. Brookstone Capital Management now owns 216,358 shares of the pipeline company’s stock valued at $3,473,000 after buying an additional 10,738 shares during the last quarter. CWM LLC grew its holdings in shares of Energy Transfer by 60.6% during the third quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock worth $1,580,000 after buying an additional 37,136 shares during the last quarter. Fermata Advisors LLC increased its position in Energy Transfer by 8.0% in the 3rd quarter. Fermata Advisors LLC now owns 14,935 shares of the pipeline company’s stock valued at $240,000 after acquiring an additional 1,110 shares during the period. Finally, Fiduciary Financial Group LLC grew its stake in shares of Energy Transfer by 7.1% in the 3rd quarter. Fiduciary Financial Group LLC now owns 24,371 shares of the pipeline company’s stock valued at $394,000 after purchasing an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

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

Energy Transfer Stock Down 2.2 %

Shares of NYSE ET opened at $19.92 on Friday. The firm’s 50-day moving average is $19.71 and its two-hundred day moving average is $17.61. The company has a market capitalization of $68.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. Energy Transfer LP has a 12-month low of $13.80 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.