Energy Transfer LP (NYSE:ET) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 29.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 24,509 shares of the pipeline company’s stock after acquiring an additional 5,519 shares during the period. Merit Financial Group LLC’s holdings in Energy Transfer were worth $338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 9258 Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth approximately $645,000. Benjamin F. Edwards & Company Inc. boosted its stake in Energy Transfer by 167.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 10,266 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 6,428 shares during the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Energy Transfer by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock worth $1,843,000 after buying an additional 1,663 shares in the last quarter. Levin Capital Strategies L.P. raised its position in shares of Energy Transfer by 24.2% in the fourth quarter. Levin Capital Strategies L.P. now owns 41,000 shares of the pipeline company’s stock valued at $566,000 after buying an additional 8,000 shares during the last quarter. Finally, Miller Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth about $61,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.7 %

ET opened at $16.25 on Thursday. The stock has a market capitalization of $54.74 billion, a PE ratio of 14.90 and a beta of 1.63. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.27. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The business’s 50 day moving average price is $15.52 and its 200 day moving average price is $14.43.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion for 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 in the previous year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 7.81%. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup increased their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group reduced their price objective 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. Finally, Mizuho restated a “buy” rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

About Energy Transfer

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.