Fourpath Capital Management LLC Acquires 36,829 Shares of Energy Transfer LP (NYSE:ET)

Fourpath Capital Management LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 811,023 shares of the pipeline company’s stock after buying an additional 36,829 shares during the quarter. Energy Transfer accounts for about 2.9% of Fourpath Capital Management LLC’s portfolio, making the stock its 4th largest position. Fourpath Capital Management LLC’s holdings in Energy Transfer were worth $15,888,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. EQ Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $316,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the 4th quarter valued at $37,000. HFG Advisors Inc. raised its stake in Energy Transfer by 2.0% in the 4th quarter. HFG Advisors Inc. now owns 56,695 shares of the pipeline company’s stock worth $1,111,000 after acquiring an additional 1,100 shares during the last quarter. S.A. Mason LLC lifted its position in Energy Transfer by 18.7% during the 4th quarter. S.A. Mason LLC now owns 4,873 shares of the pipeline company’s stock worth $95,000 after acquiring an additional 768 shares during the period. Finally, Burford Brothers Inc. grew its stake in Energy Transfer by 13.3% during the 4th quarter. Burford Brothers Inc. now owns 50,894 shares of the pipeline company’s stock valued at $997,000 after purchasing an additional 5,973 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Performance

NYSE ET opened at $20.74 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45. The stock has a 50-day moving average of $19.59 and a 200 day moving average of $17.51. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend is Friday, February 7th. 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.