Corient Private Wealth LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Corient Private Wealth LLC grew its stake in Energy Transfer LP (NYSE:ET) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,678,533 shares of the pipeline company’s stock after acquiring an additional 9,192 shares during the quarter. Corient Private Wealth LLC’s holdings in Energy Transfer were worth $32,882,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Ninepoint Partners LP increased its position in Energy Transfer by 30.9% during the fourth quarter. Ninepoint Partners LP now owns 78,832 shares of the pipeline company’s stock worth $1,544,000 after purchasing an additional 18,595 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Energy Transfer by 47.6% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 2,614 shares of the pipeline company’s stock valued at $51,000 after buying an additional 843 shares during the period. Tidemark LLC increased its holdings in shares of Energy Transfer by 58.9% during the 4th quarter. Tidemark LLC now owns 2,188 shares of the pipeline company’s stock worth $43,000 after buying an additional 811 shares during the last quarter. one8zero8 LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $917,000. Finally, Natixis Advisors LLC lifted its holdings in Energy Transfer by 44.5% in the fourth quarter. Natixis Advisors LLC now owns 27,243 shares of the pipeline company’s stock valued at $534,000 after acquiring an additional 8,393 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $18.88 on Tuesday. The stock’s 50-day moving average is $19.64 and its two-hundred day moving average is $18.21. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market cap of $64.80 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.88%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on ET. Citigroup lifted their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $21.55.

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.