2,072 Shares in Energy Transfer LP (NYSE:ET) Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,072 shares of the pipeline company’s stock, valued at approximately $41,000.

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $29,000. Financial Life Planners acquired a new position in Energy Transfer during the fourth quarter worth $37,000. Finally, Continuum Advisory LLC boosted its position in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $19.84 on Wednesday. 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 LP has a 52 week low of $13.94 and a 52 week high of $21.45. The firm’s 50 day moving average is $19.72 and its two-hundred day moving average is $17.68. The firm has a market capitalization of $67.93 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Research analysts forecast that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.55%. 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.