Kestra Private Wealth Services LLC Has $3.48 Million Stake in Energy Transfer LP (NYSE:ET)

Kestra Private Wealth Services LLC decreased its stake in Energy Transfer LP (NYSE:ET) by 3.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 177,522 shares of the pipeline company’s stock after selling 5,901 shares during the period. Kestra Private Wealth Services LLC’s holdings in Energy Transfer were worth $3,478,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Stonegate Investment Group LLC boosted its stake in Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares in the last quarter. Private Client Services LLC boosted its stake in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after buying an additional 511 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares in the last quarter. Platform Technology Partners boosted its stake in Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after buying an additional 553 shares in the last quarter. Finally, Marcum Wealth LLC boosted its stake in Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after buying an additional 561 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ET. 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. Bank of America began 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 price objective 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 boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note 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 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Up 0.4 %

ET stock opened at $20.01 on Tuesday. The company has a market cap of $68.50 billion, a P/E ratio of 14.71, a PEG ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a twelve month low of $13.94 and a twelve month 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 has a fifty day moving average of $19.71 and a 200-day moving average of $17.65.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders 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 represents a $1.30 dividend on an annualized basis and a dividend yield of 6.50%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 94.85%.

Energy Transfer 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.