Potentia Wealth Takes $317,000 Position in Energy Transfer LP (NYSE:ET)

Potentia Wealth purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel.com reports. The firm purchased 16,174 shares of the pipeline company’s stock, valued at approximately $317,000.

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC raised its position in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the period. Chickasaw Capital Management LLC raised its holdings in Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON boosted its holdings in Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after purchasing an additional 352,625 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday. Finally, Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Up 1.4 %

Shares of Energy Transfer stock opened at $18.86 on Tuesday. The business has a 50 day moving average price of $19.56 and a 200 day moving average price of $18.31. The company has a market capitalization of $64.71 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is an increase 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 6.89%. Energy Transfer’s 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.