Financial Advocates Investment Management Boosts Holdings in Energy Transfer LP (NYSE:ET)

Financial Advocates Investment Management lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 12.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,235 shares of the pipeline company’s stock after buying an additional 2,006 shares during the period. Financial Advocates Investment Management’s holdings in Energy Transfer were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ET. FMR LLC grew its holdings in shares of Energy Transfer by 44.0% during 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 period. International Assets Investment Management LLC boosted its position in shares of Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets grew its stake in 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 worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Citigroup Inc. raised its holdings in Energy Transfer by 45.9% in the third 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 in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after buying an additional 1,269,778 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Down 2.2 %

Energy Transfer stock opened at $19.92 on Monday. Energy Transfer LP has a one year low of $13.80 and a one year high of $21.45. The business’s fifty day moving average is $19.71 and its 200 day moving average is $17.64. 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 stock has a market capitalization of $68.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.53%. Energy Transfer’s payout ratio is currently 95.59%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ET. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. 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 report on Monday, December 9th. Finally, Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.