Chicago Partners Investment Group LLC Increases Stock Holdings in Energy Transfer LP $ET

Chicago Partners Investment Group LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,383,649 shares of the pipeline company’s stock after acquiring an additional 44,143 shares during the quarter. Energy Transfer makes up about 1.5% of Chicago Partners Investment Group LLC’s portfolio, making the stock its 10th biggest position. Chicago Partners Investment Group LLC owned approximately 0.10% of Energy Transfer worth $60,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ET. Financial Life Planners acquired a new stake in shares of Energy Transfer in the 3rd quarter worth $34,000. Core Alternative Capital acquired a new stake in shares of Energy Transfer in the 3rd quarter worth $46,000. Clearstead Trust LLC acquired a new stake in shares of Energy Transfer in the 3rd quarter worth $50,000. Golden State Wealth Management LLC boosted its position in shares of Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares in the last quarter. Finally, Global Wealth Strategies & Associates boosted its position in shares of Energy Transfer by 196.4% in the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock worth $49,000 after purchasing an additional 1,964 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ET. Wells Fargo & Company raised their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Morgan Stanley raised their price objective on 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 reissued a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Finally, Barclays reissued an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.15 on Friday. The firm has a market capitalization of $65.90 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The business has a fifty day moving average of $18.92 and a 200 day moving average of $17.63. Energy Transfer LP has a 1 year low of $15.80 and a 1 year high of $19.85.

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

Energy Transfer Increases Dividend

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

Energy Transfer 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.