Madrona Financial Services LLC Acquires New Position in Energy Transfer LP (NYSE:ET)

Madrona Financial Services LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,810 shares of the pipeline company’s stock, valued at approximately $251,000.

A number of other large investors have also bought and sold shares of the stock. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $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 valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $21.10 on Thursday. Energy Transfer LP has a 12 month low of $13.79 and a 12 month high of $21.45. 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 stock has a 50 day moving average of $19.23 and a 200 day moving average of $17.28. The firm has a market cap of $72.23 billion, a PE ratio of 15.47, a PEG ratio of 0.55 and a beta of 1.70.

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, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.12%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

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

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.