Energy Transfer LP (NYSE:ET) Shares Acquired by Asset Allocation Strategies LLC

Asset Allocation Strategies LLC boosted its position in Energy Transfer LP (NYSE:ET) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,918 shares of the pipeline company’s stock after buying an additional 1,525 shares during the quarter. Asset Allocation Strategies LLC’s holdings in Energy Transfer were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Wealth Enhancement Advisory Services LLC increased its holdings in Energy Transfer by 26.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 696,770 shares of the pipeline company’s stock valued at $11,302,000 after buying an additional 146,799 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Energy Transfer by 4.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 156,613 shares of the pipeline company’s stock valued at $2,541,000 after acquiring an additional 6,440 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in shares of Energy Transfer by 111.0% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 33,913 shares of the pipeline company’s stock valued at $550,000 after acquiring an additional 17,838 shares in the last quarter. Whitener Capital Management Inc. lifted its stake in Energy Transfer by 9.3% during the second quarter. Whitener Capital Management Inc. now owns 24,658 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Fiduciary Financial Group LLC acquired a new position in Energy Transfer in the second quarter worth $372,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.38.

Energy Transfer Stock Performance

ET opened at $18.74 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $17.35 and its 200-day moving average is $16.44. The stock has a market cap of $64.16 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 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.