Energy Transfer LP (NYSE:ET) Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its holdings in Energy Transfer LP (NYSE:ET) by 47.7% during the fourth quarter, HoldingsChannel reports. The firm owned 11,365 shares of the pipeline company’s stock after buying an additional 3,670 shares during the period. Allworth Financial LP’s holdings in Energy Transfer were worth $157,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Energy Transfer by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 79,889 shares of the pipeline company’s stock worth $894,000 after purchasing an additional 3,501 shares during the last quarter. Cibc World Market Inc. raised its position in Energy Transfer by 0.6% during the 1st quarter. Cibc World Market Inc. now owns 424,932 shares of the pipeline company’s stock worth $4,755,000 after buying an additional 2,403 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Energy Transfer by 13.7% in the 1st quarter. Blair William & Co. IL now owns 260,824 shares of the pipeline company’s stock worth $2,919,000 after acquiring an additional 31,407 shares during the period. Cetera Investment Advisers increased its stake in shares of Energy Transfer by 7.3% during the first quarter. Cetera Investment Advisers now owns 159,249 shares of the pipeline company’s stock worth $1,782,000 after acquiring an additional 10,856 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Energy Transfer by 43.0% during the first quarter. NewEdge Advisors LLC now owns 192,394 shares of the pipeline company’s stock worth $2,153,000 after purchasing an additional 57,880 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Citigroup increased their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Stock Performance

NYSE ET opened at $15.69 on Friday. The business has a 50 day moving average price of $15.03 and a 200 day moving average price of $14.18. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market capitalization of $52.85 billion, a P/E ratio of 14.39 and a beta of 1.64. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were given a dividend of $0.315 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.03%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s payout ratio is currently 115.60%.

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.