Avalon Capital Management Purchases 2,200 Shares of Energy Transfer LP (NYSE:ET)

Avalon Capital Management increased its position in shares of Energy Transfer LP (NYSE:ET) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,760 shares of the pipeline company’s stock after purchasing an additional 2,200 shares during the quarter. Avalon Capital Management’s holdings in Energy Transfer were worth $1,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ET. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the period. Citigroup Inc. increased its holdings in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the period. Pathway Financial Advisers LLC boosted its position in Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after acquiring an additional 1,269,778 shares during the last quarter. Finally, Americana Partners LLC boosted its position in Energy Transfer by 157.5% during the third quarter. Americana Partners LLC now owns 1,805,816 shares of the pipeline company’s stock valued at $28,983,000 after acquiring an additional 1,104,494 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $18.96 on Tuesday. The stock has a fifty day simple moving average of $19.88 and a two-hundred day simple moving average of $17.95. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 12-month low of $14.52 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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%. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. 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. This represents a $1.30 annualized dividend and a dividend yield of 6.86%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Barclays raised their price target 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. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price target on shares of 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 raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Company 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.