Concurrent Investment Advisors LLC Increases Stake in Energy Transfer LP (NYSE:ET)

Concurrent Investment Advisors LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 35.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,826 shares of the pipeline company’s stock after buying an additional 33,723 shares during the period. Concurrent Investment Advisors LLC’s holdings in Energy Transfer were worth $2,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Hardy Reed LLC boosted its position in shares of Energy Transfer by 3.7% during the fourth quarter. Hardy Reed LLC now owns 39,840 shares of the pipeline company’s stock worth $780,000 after acquiring an additional 1,420 shares during the last quarter. LMG Wealth Partners LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $1,173,000. Corps Capital Advisors LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $3,705,000. Ieq Capital LLC boosted its position in shares of Energy Transfer by 6.4% during the fourth quarter. Ieq Capital LLC now owns 211,532 shares of the pipeline company’s stock worth $4,144,000 after acquiring an additional 12,801 shares during the last quarter. Finally, Private Wealth Partners LLC boosted its position in shares of Energy Transfer by 454.2% during the fourth quarter. Private Wealth Partners LLC now owns 66,500 shares of the pipeline company’s stock worth $1,303,000 after acquiring an additional 54,500 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 2.7 %

NYSE:ET opened at $19.40 on Friday. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The stock has a market capitalization of $66.55 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $17.90.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders 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 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 yield of 6.70%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased 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. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.