20,606 Shares in Energy Transfer LP (NYSE:ET) Acquired by Breakwater Capital Group

Breakwater Capital Group bought a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,606 shares of the pipeline company’s stock, valued at approximately $404,000.

A number of other large investors also recently added to or reduced their stakes in ET. Rosenberg Matthew Hamilton raised its holdings in shares of Energy Transfer by 52.5% in the 4th quarter. Rosenberg Matthew Hamilton now owns 3,050 shares of the pipeline company’s stock valued at $60,000 after buying an additional 1,050 shares during the period. Marcum Wealth LLC increased 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 worth $252,000 after purchasing an additional 561 shares during the period. Eastern Bank increased its stake in Energy Transfer by 14.7% during the fourth quarter. Eastern Bank now owns 7,790 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 1,000 shares during the period. Brookstone Capital Management lifted its position in shares of Energy Transfer by 4.4% during the fourth quarter. Brookstone Capital Management now owns 225,829 shares of the pipeline company’s stock worth $4,424,000 after purchasing an additional 9,471 shares in the last quarter. Finally, Winthrop Advisory Group LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $245,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.89 on Wednesday. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.02. 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 firm has a market cap of $68.10 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.62 and a beta of 1.70. The stock’s 50-day moving average is $18.85 and its two-hundred day moving average is $17.12.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.49%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ET shares. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One 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, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $20.82.

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.