Harbor Investment Advisory LLC Has $34,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Harbor Investment Advisory LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 42.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,500 shares of the pipeline company’s stock after acquiring an additional 750 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Energy Transfer were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in Energy Transfer by 109,332.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after purchasing an additional 145,810,023 shares in the last quarter. Morgan Stanley boosted its holdings in Energy Transfer by 20.9% in the fourth quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after purchasing an additional 13,220,435 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,447.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after purchasing an additional 3,514,195 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Stock Down 1.7 %

ET stock opened at $15.42 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. Energy Transfer LP has a 52-week low of $12.18 and a 52-week high of $16.04. The company has a 50-day moving average of $15.06 and a two-hundred day moving average of $14.19. The stock has a market capitalization of $51.96 billion, a price-to-earnings ratio of 14.15 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.17%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is currently 115.60%.

Energy Transfer 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.