Energy Transfer LP (NYSE:ET) Holdings Raised by Diversify Advisory Services LLC

Diversify Advisory Services LLC increased its stake in Energy Transfer LP (NYSE:ET) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 917,815 shares of the pipeline company’s stock after acquiring an additional 11,026 shares during the period. Energy Transfer accounts for approximately 1.0% of Diversify Advisory Services LLC’s holdings, making the stock its 18th biggest position. Diversify Advisory Services LLC’s holdings in Energy Transfer were worth $17,824,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. 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 research note on Thursday, December 19th. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.2 %

NYSE:ET opened at $20.28 on Monday. The company’s 50 day moving average is $19.02 and its 200-day moving average is $17.19. 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 LP has a 12 month low of $13.60 and a 12 month high of $20.40. The firm has a market cap of $69.45 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.57 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. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. Equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. 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%.

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.