Wealthstar Advisors LLC Purchases New Position in Energy Transfer LP (NYSE:ET)

Wealthstar Advisors LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,317 shares of the pipeline company’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC increased its holdings in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer during the 4th quarter valued at $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after acquiring an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd lifted its stake in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ET. The Goldman Sachs Group boosted their target price on shares of 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 increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Down 2.2 %

Energy Transfer stock opened at $19.92 on Monday. Energy Transfer LP has a fifty-two week low of $13.80 and a fifty-two week high of $21.45. The company has a market cap of $68.19 billion, a PE ratio of 14.64, a PEG ratio of 0.52 and a beta of 1.69. 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 business’s 50-day simple moving average is $19.71 and its two-hundred day simple moving average is $17.64.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. Energy Transfer’s dividend payout ratio (DPR) is currently 95.59%.

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.