Beaumont Financial Advisors LLC Purchases New Position in Energy Transfer LP (NYSE:ET)

Beaumont Financial Advisors LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,186 shares of the pipeline company’s stock, valued at approximately $141,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its holdings in Energy Transfer by 109,332.4% during 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 raised its holdings in Energy Transfer by 20.9% during 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. raised its holdings in Energy Transfer by 14.5% during 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. raised its holdings in Energy Transfer by 38.3% during 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 raised its holdings in Energy Transfer by 1,447.6% during 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup increased their price target 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. Mizuho reissued a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday. Finally, UBS Group cut 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Trading Up 1.5 %

Shares of ET opened at $15.77 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average is $15.19 and its two-hundred day moving average is $14.25. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04. The firm has a market capitalization of $53.14 billion, a P/E ratio of 14.47 and a beta of 1.64.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share 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 company 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 business posted $0.34 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 7.99%. Energy Transfer’s dividend payout ratio is currently 115.60%.

Energy Transfer Company 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.