Energy Transfer LP (NYSE:ET) Shares Acquired by Essex Financial Services Inc.

Essex Financial Services Inc. grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,861 shares of the pipeline company’s stock after acquiring an additional 1,533 shares during the period. Essex Financial Services Inc.’s holdings in Energy Transfer were worth $453,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC increased its holdings in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares during the period. BluePath Capital Management LLC bought a new position in shares of Energy Transfer in the third quarter worth $37,000. Community Bank N.A. grew its position in Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after buying an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Energy Transfer during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.8 %

NYSE:ET opened at $15.90 on Friday. The company has a market capitalization of $53.57 billion, a P/E ratio of 14.59 and a beta of 1.63. The stock’s 50 day moving average price is $15.44 and its 200 day moving average price is $14.38. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. Energy Transfer LP has a 52 week low of $12.18 and a 52 week high of $16.07.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 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 company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the prior year, the business posted $0.34 EPS. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts forecast that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.97%. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ET shares. UBS Group dropped their price target 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. Mizuho reissued a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup upped their price objective 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.