HB Wealth Management LLC Purchases 8,351 Shares of Energy Transfer LP (NYSE:ET)

HB Wealth Management LLC boosted its position in shares of Energy Transfer LP (NYSE:ETFree Report) by 11.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,407 shares of the pipeline company’s stock after purchasing an additional 8,351 shares during the period. HB Wealth Management LLC’s holdings in Energy Transfer were worth $1,096,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. VitalStone Financial LLC grew its position in shares of Energy Transfer by 100.0% during the 1st quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock worth $25,000 after buying an additional 1,500 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Energy Transfer during the first quarter valued at approximately $25,000. Rise Advisors LLC grew its holdings in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the period. Tsfg LLC grew its holdings in Energy Transfer by 86.8% during the third quarter. Tsfg LLC now owns 2,152 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. Finally, IMA Wealth Inc. grew its holdings in Energy Transfer by 100.0% during the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 1,200 shares during the period. 33.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of a number of research reports. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. UBS Group cut their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.57.

Read Our Latest Stock Report on ET

Energy Transfer Stock Performance

Shares of ET stock opened at $15.56 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The company’s fifty day simple moving average is $14.58 and its 200-day simple moving average is $13.99. Energy Transfer LP has a 12 month low of $11.59 and a 12 month high of $15.74. The firm has a market cap of $52.41 billion, a PE ratio of 14.27 and a beta of 1.64.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.315 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend was Tuesday, February 6th. Energy Transfer’s payout ratio is currently 115.60%.

About Energy Transfer

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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