Fortis Capital Management LLC Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Fortis Capital Management LLC lifted its position in Energy Transfer LP (NYSE:ET) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,556 shares of the pipeline company’s stock after buying an additional 600 shares during the quarter. Fortis Capital Management LLC’s holdings in Energy Transfer were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $29,000. United Community Bank purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $37,000. Tortoise Investment Management LLC raised its holdings in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after buying an additional 1,000 shares during the period. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of several recent research reports. Citigroup upped their price target on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Down 1.1 %

ET opened at $18.65 on Friday. Energy Transfer LP has a one year low of $14.90 and a one year high of $21.45. The company has a market cap of $63.98 billion, a P/E ratio of 14.57, a PEG ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business’s 50-day simple moving average is $19.57 and its 200-day simple moving average is $18.27.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was 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 6.97%. Energy Transfer’s dividend payout ratio is 101.56%.

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.