Cannell & Spears LLC Has $2.66 Million Position in Energy Transfer LP (NYSE:ET)

Cannell & Spears LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 135,647 shares of the pipeline company’s stock after buying an additional 546 shares during the quarter. Cannell & Spears LLC’s holdings in Energy Transfer were worth $2,657,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ET. Stonegate Investment Group LLC grew its holdings in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after acquiring an additional 482 shares during the last quarter. Private Client Services LLC grew its stake in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the last quarter. Finally, Platform Technology Partners increased its stake in shares of Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after buying an additional 553 shares during the period. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ET. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. 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 report on Wednesday, December 18th. Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Citigroup restated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.60 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The company’s 50 day moving average price is $19.43 and its two-hundred day moving average price is $18.41. The company has a market capitalization of $63.82 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Energy Transfer Company 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.