Energy Transfer LP (NYSE:ET) Shares Acquired by Summit Financial LLC

Summit Financial LLC raised its position in Energy Transfer LP (NYSE:ET) by 227.7% in the fourth quarter, Holdings Channel reports. The fund owned 685,525 shares of the pipeline company’s stock after buying an additional 476,308 shares during the period. Summit Financial LLC’s holdings in Energy Transfer were worth $13,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Energy Transfer during the fourth quarter worth $597,000. O Shaughnessy Asset Management LLC raised its position in shares of Energy Transfer by 20.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 12,090 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 2,032 shares in the last quarter. Delos Wealth Advisors LLC boosted its holdings in Energy Transfer by 43.5% in the fourth quarter. Delos Wealth Advisors LLC now owns 48,914 shares of the pipeline company’s stock valued at $958,000 after purchasing an additional 14,836 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its stake in Energy Transfer by 39.6% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 28,139 shares of the pipeline company’s stock valued at $551,000 after purchasing an additional 7,985 shares during the last quarter. Finally, SCP Investment LP raised its holdings in Energy Transfer by 28.8% during the fourth quarter. SCP Investment LP now owns 26,800 shares of the pipeline company’s stock worth $525,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.9 %

Shares of Energy Transfer stock opened at $18.72 on Monday. Energy Transfer LP has a one year low of $14.90 and a one year high of $21.45. The company has a market cap of $64.22 billion, a P/E ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. 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 firm has a fifty day moving average of $19.46 and a two-hundred day moving average of $18.39.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Analyst Ratings Changes

A number of research firms recently commented on ET. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

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.