Energy Transfer LP (NYSE:ET) Shares Purchased by Capital Market Strategies LLC

Capital Market Strategies LLC lifted its position in Energy Transfer LP (NYSE:ET) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 23,455 shares of the pipeline company’s stock after buying an additional 1,000 shares during the period. Capital Market Strategies LLC’s holdings in Energy Transfer were worth $459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC grew its stake in shares of Energy Transfer by 99.6% in the 4th quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company’s stock valued at $913,000 after buying an additional 23,249 shares during the period. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter valued at approximately $29,000. FFG Partners LLC grew its position in Energy Transfer by 3.3% in the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock worth $26,268,000 after acquiring an additional 52,302 shares during the period. Fidelity D & D Bancorp Inc. acquired a new stake in Energy Transfer during the third quarter worth $1,207,000. Finally, Peapack Gladstone Financial Corp raised its position in Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after purchasing an additional 1,000 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 0.3 %

ET traded up $0.06 on Monday, hitting $19.70. 4,788,131 shares of the company were exchanged, compared to its average volume of 15,729,473. The firm has a 50-day moving average price of $18.41 and a two-hundred day moving average price of $16.94. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.60 and a twelve month high of $20.02. The company has a market cap of $67.45 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.55%. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Barclays increased their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.55.

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.