Energy Transfer LP $ET Shares Purchased by Cwm LLC

Cwm LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,815 shares of the pipeline company’s stock after purchasing an additional 47,282 shares during the quarter. Cwm LLC’s holdings in Energy Transfer were worth $4,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at approximately $34,000. Core Alternative Capital acquired a new position in Energy Transfer during the third quarter worth $46,000. Clearstead Trust LLC acquired a new position in Energy Transfer during the third quarter worth $50,000. Golden State Wealth Management LLC raised its position in Energy Transfer by 38.9% in the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 817 shares in the last quarter. Finally, Global Wealth Strategies & Associates raised its position in Energy Transfer by 196.4% in the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock worth $49,000 after acquiring an additional 1,964 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ET. Morgan Stanley boosted their target price on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 10th. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. TD Cowen raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Wells Fargo & Company upped their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.06 on Thursday. The stock has a fifty day moving average price of $18.90 and a 200 day moving average price of $17.62. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock has a market cap of $65.56 billion, a PE ratio of 15.75, a P/E/G ratio of 1.04 and a beta of 0.62. Energy Transfer LP has a 1 year low of $15.80 and a 1 year high of $19.85.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.5 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.