Certuity LLC Takes $485,000 Position in Energy Transfer LP (NYSE:ET)

Certuity LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, Holdings Channel reports. The fund purchased 24,740 shares of the pipeline company’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in Energy Transfer by 60.6% in the third quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock worth $1,580,000 after acquiring an additional 37,136 shares during the period. Wesbanco Bank Inc. raised 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 worth $586,000 after purchasing an additional 12,000 shares during the period. Creative Planning lifted its stake in 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 last quarter. NBC Securities Inc. grew 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 valued at $1,103,000 after purchasing an additional 4,381 shares during the period. Finally, Magnus Financial Group LLC increased its position in Energy Transfer by 19.0% in the third quarter. Magnus Financial Group LLC now owns 21,455 shares of the pipeline company’s stock worth $344,000 after buying an additional 3,429 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ET shares. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. 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 research report on Wednesday. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.70 on Thursday. The company has a 50 day moving average of $19.73 and a 200 day moving average of $17.71. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a market cap of $67.45 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 12 month low of $13.95 and a 12 month high of $21.45.

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

Energy Transfer Increases Dividend

The firm 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. This represents a $1.30 annualized dividend and a yield of 6.60%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s payout ratio is presently 94.85%.

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.