Mattern Wealth Management LLC Buys 3,400 Shares of Energy Transfer LP (NYSE:ET)

Mattern Wealth Management LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,088 shares of the pipeline company’s stock after acquiring an additional 3,400 shares during the quarter. Mattern Wealth Management LLC’s holdings in Energy Transfer were worth $844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. FSC Wealth Advisors LLC grew its stake in Energy Transfer by 63.2% in the fourth quarter. FSC Wealth Advisors LLC now owns 2,582 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 1,000 shares in the last quarter. Baldwin Wealth Partners LLC MA raised its position in Energy Transfer by 0.6% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 286,579 shares of the pipeline company’s stock worth $5,614,000 after acquiring an additional 1,650 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in Energy Transfer by 2.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 82,733 shares of the pipeline company’s stock valued at $1,621,000 after acquiring an additional 2,351 shares during the last quarter. Parsons Capital Management Inc. RI increased its stake in shares of Energy Transfer by 0.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 782,246 shares of the pipeline company’s stock worth $15,324,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Summit Financial Strategies Inc. raised its holdings in shares of Energy Transfer by 1.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 85,475 shares of the pipeline company’s stock valued at $1,674,000 after purchasing an additional 1,468 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 5.9 %

Energy Transfer stock opened at $19.80 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The stock has a market cap of $67.80 billion, a P/E ratio of 14.56, a PEG ratio of 0.55 and a beta of 1.70. The firm’s fifty day moving average price is $19.39 and its 200-day moving average price is $17.36.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group raised their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on 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.