Fortitude Family Office LLC Has $1.68 Million Stock Holdings in Energy Transfer LP $ET

Fortitude Family Office LLC increased its position in Energy Transfer LP (NYSE:ET) by 921.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,980 shares of the pipeline company’s stock after purchasing an additional 91,995 shares during the quarter. Fortitude Family Office LLC’s holdings in Energy Transfer were worth $1,682,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the last quarter. Geode Capital Management LLC boosted its position in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after purchasing an additional 7,901 shares during the period. Franklin Resources Inc. boosted its position in Energy Transfer by 2.6% during the second quarter. Franklin Resources Inc. now owns 161,433 shares of the pipeline company’s stock worth $2,927,000 after purchasing an additional 4,084 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Energy Transfer by 436.5% in the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after purchasing an additional 3,400 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 1.7%

Shares of Energy Transfer stock opened at $19.25 on Wednesday. The firm has a 50-day moving average of $18.63 and a 200-day moving average of $17.44. The stock has a market cap of $66.22 billion, a PE ratio of 15.91, a PEG ratio of 1.10 and a beta of 0.63. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $19.85. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 10th. TD Cowen raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Truist Financial initiated coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

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.