Parallel Advisors LLC Has $392,000 Stake in Energy Transfer LP (NYSE:ET)

Parallel Advisors LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,990 shares of the pipeline company’s stock after purchasing an additional 4,126 shares during the quarter. Parallel Advisors LLC’s holdings in Energy Transfer were worth $392,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Energy Transfer during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in shares of Energy Transfer during the fourth quarter worth $35,000. Financial Life Planners bought a new stake in Energy Transfer in the 4th quarter valued at $37,000. Tortoise Investment Management LLC boosted its stake in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 1,000 shares during the period. Finally, Citizens National Bank Trust Department bought a new position in Energy Transfer during the 4th quarter worth about $39,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.1 %

Shares of ET stock opened at $18.65 on Friday. Energy Transfer LP has a 52-week low of $14.90 and a 52-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. The stock has a market cap of $63.98 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.64 and a beta of 1.72. The firm’s 50-day moving average is $19.57 and its 200-day moving average is $18.26.

Energy Transfer (NYSE:ET) last released 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 net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. 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 6.97%. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of research reports. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.