Oppenheimer & Co. Inc. Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

Oppenheimer & Co. Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 999,694 shares of the pipeline company’s stock after purchasing an additional 38,664 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $19,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. WT Wealth Management increased its holdings in shares of Energy Transfer by 8.8% in the fourth quarter. WT Wealth Management now owns 38,923 shares of the pipeline company’s stock valued at $762,000 after purchasing an additional 3,151 shares during the period. NewEdge Wealth LLC increased its holdings in shares of Energy Transfer by 0.8% in the fourth quarter. NewEdge Wealth LLC now owns 76,197 shares of the pipeline company’s stock valued at $1,493,000 after purchasing an additional 600 shares during the period. Whipplewood Advisors LLC acquired a new position in Energy Transfer during the fourth quarter worth $582,000. Checchi Capital Advisers LLC grew its holdings in Energy Transfer by 17.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 29,686 shares of the pipeline company’s stock worth $582,000 after acquiring an additional 4,416 shares during the period. Finally, Advisor OS LLC grew its holdings in Energy Transfer by 5.6% during the fourth quarter. Advisor OS LLC now owns 48,590 shares of the pipeline company’s stock worth $952,000 after acquiring an additional 2,580 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. 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 report on Wednesday, December 18th. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Up 1.2 %

Shares of NYSE:ET opened at $19.15 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52-week low of $14.52 and a 52-week high of $21.45. The stock’s fifty day simple moving average is $19.90 and its 200-day simple moving average is $17.98. The company has a market capitalization of $65.69 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.79%. Energy Transfer’s dividend payout ratio is 101.56%.

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.