Caprock Group LLC Invests $1.12 Million in Energy Transfer LP (NYSE:ET)

Caprock Group LLC acquired a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 57,128 shares of the pipeline company’s stock, valued at approximately $1,119,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth about $29,000. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. boosted 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 worth $28,000 after purchasing an additional 1,668 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the third 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 last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent research reports. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company increased their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Down 2.9 %

Shares of NYSE ET opened at $20.47 on Monday. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $19.59 and its two-hundred day moving average is $17.50. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.54 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, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. Research analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 94.85%.

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.