15,192 Shares in Energy Transfer LP (NYSE:ET) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. bought a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,192 shares of the pipeline company’s stock, valued at approximately $298,000.

Several other large investors have also recently added to or reduced their stakes in the business. Private Client Services LLC raised its position in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares in the last quarter. Marcum Wealth LLC lifted its stake in Energy Transfer by 4.6% during the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 561 shares during the last quarter. Financial Freedom LLC boosted its holdings in Energy Transfer by 26.8% during the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock worth $57,000 after buying an additional 614 shares in the last quarter. Fortis Capital Management LLC grew its position in Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE:ET opened at $20.28 on Monday. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.40. The company has a market cap of $69.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock’s 50-day simple moving average is $19.02 and its 200 day simple moving average is $17.19.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) 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 company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the company posted $0.31 EPS. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Company Profile

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.