Cornerstone Advisory LLC Has $834,000 Position in Energy Transfer LP (NYSE:ET)

Cornerstone Advisory LLC boosted its position in Energy Transfer LP (NYSE:ET) by 12.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,451 shares of the pipeline company’s stock after purchasing an additional 6,881 shares during the quarter. Cornerstone Advisory LLC’s holdings in Energy Transfer were worth $834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mutual Advisors LLC increased its holdings in Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after purchasing an additional 77,938 shares in the last quarter. Savant Capital LLC increased its stake in shares of Energy Transfer by 19.7% in the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after buying an additional 4,340 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after acquiring an additional 513,989 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Energy Transfer by 3.3% during the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after acquiring an additional 903 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after acquiring an additional 71,386 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ET shares. Mizuho restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Citigroup raised their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. UBS Group raised their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus raised their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.43.

Energy Transfer Stock Performance

Energy Transfer stock traded down $0.28 during mid-day trading on Monday, reaching $15.39. 12,163,203 shares of the company’s stock were exchanged, compared to its average volume of 12,206,815. The business’s fifty day simple moving average is $15.74 and its 200 day simple moving average is $14.74. The firm has a market capitalization of $51.86 billion, a PE ratio of 14.19, a P/E/G ratio of 0.43 and a beta of 1.63. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.40. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Energy Transfer 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.