IAG Wealth Partners LLC Acquires 4,467 Shares of Energy Transfer LP (NYSE:ET)

IAG Wealth Partners LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 74.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,456 shares of the pipeline company’s stock after purchasing an additional 4,467 shares during the period. IAG Wealth Partners LLC’s holdings in Energy Transfer were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Energy Transfer by 44.0% in the third 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. BNP Paribas Financial Markets raised its stake in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Citigroup Inc. raised its stake in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after acquiring an additional 3,013,973 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. Finally, Prospera Private Wealth LLC raised its stake in shares of Energy Transfer by 1,680.2% in the third quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after acquiring an additional 730,706 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup raised their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Price Performance

Shares of ET stock opened at $18.42 on Thursday. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $19.70 and a 200-day moving average of $18.14.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results 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%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.06%. Energy Transfer’s payout ratio is 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.