Fortem Financial Group LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Fortem Financial Group LLC increased its stake in Energy Transfer LP (NYSE:ET) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 205,872 shares of the pipeline company’s stock after buying an additional 5,566 shares during the quarter. Energy Transfer accounts for approximately 1.6% of Fortem Financial Group LLC’s portfolio, making the stock its 16th largest holding. Fortem Financial Group LLC’s holdings in Energy Transfer were worth $4,033,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC boosted its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in Energy Transfer in the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET traded down $0.07 during midday trading on Monday, hitting $19.57. The company had a trading volume of 7,267,416 shares, compared to its average volume of 16,637,670. The company has a market capitalization of $67.01 billion, a PE ratio of 14.39, a P/E/G ratio of 0.63 and a beta of 1.70. 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 $13.60 and a 52-week high of $20.02. The stock’s fifty day moving average price is $18.41 and its 200-day moving average price is $16.94.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ET. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped 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 research report on Monday, December 9th. Barclays upped their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

About Energy Transfer

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.