Energy Transfer LP (NYSE:ET) Stock Holdings Lifted by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 478,202 shares of the pipeline company’s stock after purchasing an additional 4,152 shares during the period. Energy Transfer comprises 2.3% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 8th largest holding. Cutter & CO Brokerage Inc.’s holdings in Energy Transfer were worth $9,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stonegate Investment Group LLC grew its stake 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 buying an additional 482 shares during the last quarter. Private Client Services LLC grew its stake in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares during the last quarter. Finally, Platform Technology Partners grew its stake in Energy Transfer by 0.8% during the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after purchasing an additional 553 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target 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 boosted their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.94 on Wednesday. The stock has a market cap of $64.97 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The business has a 50-day simple moving average of $19.88 and a 200-day simple moving average of $17.97. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52-week low of $14.52 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last released 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.87%. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.