SVB Wealth LLC Buys 4,306 Shares of Energy Transfer LP (NYSE:ET)

SVB Wealth LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 23.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,597 shares of the pipeline company’s stock after purchasing an additional 4,306 shares during the quarter. SVB Wealth LLC’s holdings in Energy Transfer were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ET. Mutual Advisors LLC increased its position in shares of Energy Transfer by 112.9% during the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 77,938 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Energy Transfer by 230.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after purchasing an additional 513,989 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of Energy Transfer by 3.3% during the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 903 shares during the last quarter. Fractal Investments LLC increased its position in shares of Energy Transfer by 12.9% during the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after purchasing an additional 647,885 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its stake in shares of Energy Transfer by 22.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after acquiring an additional 77,352 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ET. Mizuho reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday. Citigroup increased their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Performance

Shares of ET opened at $15.77 on Monday. The company has a market cap of $53.14 billion, a PE ratio of 14.47 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average price of $15.19 and a 200-day moving average price of $14.25. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

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.