13,908 Shares in Energy Transfer LP (NYSE:ET) Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,908 shares of the pipeline company’s stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC boosted its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter worth $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC increased its position in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.93 on Monday. The stock has a market cap of $71.68 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The business has a 50-day simple moving average of $19.39 and a 200-day simple moving average of $17.35. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ET. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their target price 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. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer 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.