Chesley Taft & Associates LLC Increases Position in Energy Transfer LP (NYSE:ET)

Chesley Taft & Associates LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,586 shares of the pipeline company’s stock after purchasing an additional 15,000 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Energy Transfer were worth $1,324,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third 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. grew its stake in 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 buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC acquired a new position in Energy Transfer during the 4th quarter valued at about $29,000. HWG Holdings LP purchased a new stake in Energy Transfer in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective 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. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Up 3.0 %

Shares of NYSE:ET opened at $20.90 on Wednesday. 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 12-month low of $13.78 and a 12-month high of $21.02. The business has a 50 day moving average of $19.08 and a two-hundred day moving average of $17.23. The company has a market capitalization of $71.54 billion, a PE ratio of 15.36, a PEG ratio of 0.53 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the previous year, the business posted $0.31 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.17%. Energy Transfer’s dividend 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.