Wealth Enhancement Advisory Services LLC grew its position in Energy Transfer LP (NYSE:ET – Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 742,147 shares of the pipeline company’s stock after acquiring an additional 23,324 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $14,539,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in ET. Bank of New York Mellon Corp boosted its holdings in Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after buying an additional 23,079 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in Energy Transfer by 32.7% during the second quarter. HBK Sorce Advisory LLC now owns 20,877 shares of the pipeline company’s stock worth $339,000 after buying an additional 5,148 shares in the last quarter. 1ST Source Bank boosted its holdings in Energy Transfer by 7.2% during the second quarter. 1ST Source Bank now owns 22,994 shares of the pipeline company’s stock worth $373,000 after buying an additional 1,550 shares in the last quarter. Fiduciary Group LLC boosted its holdings in Energy Transfer by 14.9% during the second quarter. Fiduciary Group LLC now owns 35,058 shares of the pipeline company’s stock worth $569,000 after buying an additional 4,543 shares in the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in Energy Transfer during the second quarter worth about $311,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Energy Transfer Stock Performance
NYSE:ET opened at $19.44 on Monday. The firm has a 50 day simple moving average of $18.73 and a 200-day simple moving average of $17.07. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market cap of $66.56 billion, a PE ratio of 14.29, a P/E/G ratio of 0.62 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02.
Energy Transfer Cuts Dividend
The business also recently declared 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 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.55.
Check Out Our Latest Stock Report on ET
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.
Read More
- Five stocks we like better than Energy Transfer
- How to Most Effectively Use the MarketBeat Earnings Screener
- ServiceTitan Made Waves in Its IPO, But Is the Stock a Buy?
- How to Calculate Stock Profit
- Netflix: Is This the Perfect Time to Buy a Streaming Powerhouse?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Goldman Sachs Unveils 3 Massive Opportunities for 2025 Investors
Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Free Report).
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.