SRH Advisors LLC Takes Position in Energy Transfer LP (NYSE:ET)

SRH Advisors LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,325 shares of the pipeline company’s stock, valued at approximately $46,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Energy Transfer by 60.6% in the third quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after acquiring an additional 37,136 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Energy Transfer by 4.0% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 35,274 shares of the pipeline company’s stock valued at $566,000 after purchasing an additional 1,361 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Energy Transfer by 48.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock valued at $586,000 after purchasing an additional 12,000 shares in the last quarter. Creative Planning lifted its stake in shares of Energy Transfer by 16.9% in the third quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock valued at $12,777,000 after purchasing an additional 115,081 shares during the period. Finally, NBC Securities Inc. boosted its holdings in Energy Transfer by 6.8% during the third quarter. NBC Securities Inc. now owns 68,738 shares of the pipeline company’s stock worth $1,103,000 after buying an additional 4,381 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.2 %

ET opened at $19.84 on Wednesday. The firm has a market cap of $67.93 billion, a P/E ratio of 14.59, a PEG ratio of 0.52 and a beta of 1.69. The business’s fifty day simple moving average is $19.72 and its 200 day simple moving average is $17.68. Energy Transfer LP has a 52 week low of $13.94 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its earnings results 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 5.90% and a return on equity of 12.38%. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.55%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analyst Ratings Changes

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

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.