Delap Wealth Advisory LLC Acquires 901 Shares of Energy Transfer LP (NYSE:ET)

Delap Wealth Advisory LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 6.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,161 shares of the pipeline company’s stock after purchasing an additional 901 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Energy Transfer were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its stake 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 during the period. Assetmark Inc. increased its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth approximately $29,000. Financial Life Planners bought a new position in shares of Energy Transfer during the fourth quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Energy Transfer during the fourth quarter worth approximately $39,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 2.7 %

Shares of ET stock opened at $19.40 on Friday. The stock’s fifty day moving average price is $19.87 and its two-hundred day moving average price is $17.91. The company has a market cap of $66.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays increased 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. The Goldman Sachs Group raised 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. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised 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. Finally, Royal Bank of Canada raised 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.