Energy Transfer LP (NYSE:ET) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 64.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,532 shares of the pipeline company’s stock after purchasing an additional 22,512 shares during the period. Summit Trail Advisors LLC’s holdings in Energy Transfer were worth $1,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ET. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. grew its position in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Financial Life Planners acquired a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $37,000. Finally, Continuum Advisory LLC raised its position in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 729 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 1.2 %

Shares of NYSE:ET opened at $19.84 on Wednesday. The firm has a 50 day simple moving average of $19.72 and a 200 day simple moving average of $17.68. Energy Transfer LP has a 52 week low of $13.94 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market cap of $67.93 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. As a group, research analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.55%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ET shares. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, 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 target on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.