Ellsworth Advisors LLC Has $2.13 Million Stock Position in Energy Transfer LP (NYSE:ET)

Ellsworth Advisors LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,954 shares of the pipeline company’s stock after acquiring an additional 9,422 shares during the quarter. Ellsworth Advisors LLC’s holdings in Energy Transfer were worth $2,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% during 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 in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC boosted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $20.28 on Monday. The company’s 50-day moving average is $19.02 and its 200-day moving average is $17.19. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market capitalization of $69.45 billion, a PE ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $21.59 billion. During the same period last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.36%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ET shares. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.