Wellington Shields & Co. LLC Has $1.01 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Wellington Shields & Co. LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,527 shares of the pipeline company’s stock after buying an additional 2,000 shares during the period. Wellington Shields & Co. LLC’s holdings in Energy Transfer were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Wealth Management LLC acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $423,000. Wellington Shields Capital Management LLC lifted its position in shares of Energy Transfer by 17.7% in the 4th quarter. Wellington Shields Capital Management LLC now owns 117,217 shares of the pipeline company’s stock worth $2,296,000 after purchasing an additional 17,623 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Energy Transfer by 8.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,633,396 shares of the pipeline company’s stock worth $31,998,000 after purchasing an additional 131,056 shares during the period. IAG Wealth Partners LLC lifted its position in shares of Energy Transfer by 74.6% in the 4th quarter. IAG Wealth Partners LLC now owns 10,456 shares of the pipeline company’s stock worth $205,000 after purchasing an additional 4,467 shares during the period. Finally, Mercuria Capital Strategies LLC acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $12,734,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.72 on Friday. The firm has a market capitalization of $64.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The firm has a fifty day simple moving average of $19.65 and a two-hundred day simple moving average of $18.16. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly 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 net margin of 5.74% and a return on equity of 11.56%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid 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 6.95%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ET shares. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays lifted their price objective 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. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.55.

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.