Energy Transfer LP (NYSE:ET) Shares Purchased by Romano Brothers AND Company

Romano Brothers AND Company grew its stake in shares of Energy Transfer LP (NYSE:ET) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,139 shares of the pipeline company’s stock after acquiring an additional 4,277 shares during the quarter. Romano Brothers AND Company’s holdings in Energy Transfer were worth $306,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Activest Wealth Management increased its stake in Energy Transfer by 33.9% during the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 736 shares during the last quarter. Veracity Capital LLC increased its position in Energy Transfer by 2.3% during the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 738 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares during the period. Cornerstone Wealth Management LLC lifted its position in Energy Transfer by 2.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock valued at $513,000 after buying an additional 776 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.9% during the fourth quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock worth $592,000 after buying an additional 785 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

NYSE:ET opened at $15.42 on Monday. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04. The stock has a market cap of $51.96 billion, a P/E ratio of 14.15 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a 50-day moving average of $15.06 and a two-hundred day moving average of $14.20.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. On average, research analysts expect that Energy Transfer LP will post 1.44 earnings per share 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 dividend of $0.315 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 8.17%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

Analysts Set New Price Targets

Several research firms recently weighed in on ET. UBS Group reduced their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One 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, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $17.57.

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.