Independent Wealth Network Inc. Grows Holdings in Energy Transfer LP (NYSE:ET)

Independent Wealth Network Inc. boosted its position in shares of Energy Transfer LP (NYSE:ETFree Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,607 shares of the pipeline company’s stock after acquiring an additional 2,336 shares during the period. Independent Wealth Network Inc.’s holdings in Energy Transfer were worth $933,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $1,297,000. Kingsview Wealth Management LLC lifted its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares in the last quarter. Paragon Capital Management Ltd grew its stake in Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares in the last quarter. Finally, FMR LLC increased its holdings in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $20.94 on Thursday. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. The stock’s fifty day moving average price is $19.16 and its 200-day moving average price is $17.26. The firm has a market cap of $71.68 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ETGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. On average, equities research analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ET shares. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Check Out Our Latest Stock Report on ET

About Energy Transfer

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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