10,476 Shares in Energy Transfer LP (NYSE:ET) Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 10,476 shares of the pipeline company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised 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 worth $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC grew its position in Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares during the period. Brookfield Corp ON grew its position in Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the period. BNP Paribas Financial Markets grew its position in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. grew its position in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted 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, February 12th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Trading Down 0.7 %

Shares of ET stock opened at $19.98 on Friday. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.53 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a fifty day moving average price of $19.86 and a 200-day moving average price of $17.87. Energy Transfer LP has a 1 year low of $14.52 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.51%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.