Brookstone Capital Management increased its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,829 shares of the pipeline company’s stock after acquiring an additional 9,471 shares during the period. Brookstone Capital Management’s holdings in Energy Transfer were worth $4,424,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer during the fourth quarter valued at $1,297,000. Kingsview Wealth Management LLC increased its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares in the last quarter. FMR LLC raised its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the period. Finally, Clear Street Derivatives LLC purchased a new stake in shares of Energy Transfer during the 3rd quarter worth about $2,565,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
Energy Transfer Trading Up 2.2 %
ET opened at $19.89 on Wednesday. The firm has a market capitalization of $68.10 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The company’s 50 day simple moving average is $18.85 and its two-hundred day simple moving average is $17.12. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.
Energy Transfer Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.49%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.82.
Get Our Latest Stock Report on Energy Transfer
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.
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