Energy Transfer LP (NYSE:ET) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 103.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 66,992 shares of the pipeline company’s stock after acquiring an additional 34,105 shares during the quarter. Merit Financial Group LLC’s holdings in Energy Transfer were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Walker Asset Management LLC grew its stake in Energy Transfer by 27.8% during the 4th quarter. Walker Asset Management LLC now owns 15,597 shares of the pipeline company’s stock worth $306,000 after buying an additional 3,394 shares during the last quarter. Yarger Wealth Strategies LLC grew its stake in Energy Transfer by 3.7% during the 4th quarter. Yarger Wealth Strategies LLC now owns 20,225 shares of the pipeline company’s stock worth $396,000 after buying an additional 722 shares during the last quarter. Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.5% during the 4th quarter. Morton Capital Management LLC CA now owns 45,789 shares of the pipeline company’s stock worth $897,000 after buying an additional 683 shares during the last quarter. Carnegie Investment Counsel bought a new position in Energy Transfer during the 4th quarter worth $246,000. Finally, Sanders Morris Harris LLC grew its stake in Energy Transfer by 22.5% during the 4th quarter. Sanders Morris Harris LLC now owns 87,198 shares of the pipeline company’s stock worth $1,694,000 after buying an additional 16,000 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ET shares. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Up 0.2 %

Shares of ET stock opened at $20.28 on Tuesday. The stock has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $17.20. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.40. The stock has a market capitalization of $69.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

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.