Strategy Asset Managers LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Strategy Asset Managers LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,734 shares of the pipeline company’s stock after buying an additional 1,107 shares during the quarter. Strategy Asset Managers LLC’s holdings in Energy Transfer were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Watts Gwilliam & Co. LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in shares of Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 37,633 shares during the period. Paragon Capital Management Ltd boosted its position in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares during the period. Finally, FFG Partners LLC increased its holdings in Energy Transfer by 0.9% in the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock valued at $32,335,000 after purchasing an additional 13,948 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. Wells Fargo & Company raised 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus increased their target price 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Performance

NYSE:ET opened at $18.72 on Friday. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. 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 firm has a market capitalization of $64.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The business’s fifty day moving average price is $19.46 and its 200 day moving average price is $18.37.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 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%. On average, sell-side analysts anticipate 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. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.95%. 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. Energy Transfer’s payout ratio is 101.56%.

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.