StoneX Group Inc. Has $1.72 Million Stock Position in Energy Transfer LP (NYSE:ET)

StoneX Group Inc. lifted its stake in Energy Transfer LP (NYSE:ET) by 8.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 87,706 shares of the pipeline company’s stock after buying an additional 6,616 shares during the quarter. StoneX Group Inc.’s holdings in Energy Transfer were worth $1,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the fourth quarter worth about $25,000. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in Energy Transfer during the 4th quarter valued at $35,000. Financial Life Planners bought a new position in Energy Transfer in the 4th quarter valued at $37,000. Finally, Tortoise Investment Management LLC boosted its stake in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.7 %

NYSE ET opened at $18.73 on Wednesday. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The stock has a 50-day simple moving average of $19.38 and a 200 day simple moving average of $18.43. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $64.25 billion, a PE ratio of 14.63, a P/E/G ratio of 0.64 and a beta of 1.72.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.94%. Energy Transfer’s payout ratio is 101.56%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ET. The Goldman Sachs Group raised 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. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley increased their price target 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. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

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.