Empowered Funds LLC Increases Position in Energy Transfer LP (NYSE:ET)

Empowered Funds LLC boosted its position in Energy Transfer LP (NYSE:ET) by 15.8% in the 4th quarter, Holdings Channel reports. The fund owned 401,491 shares of the pipeline company’s stock after purchasing an additional 54,666 shares during the period. Empowered Funds LLC’s holdings in Energy Transfer were worth $7,865,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stonegate Investment Group LLC boosted its position in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after acquiring an additional 482 shares during the last quarter. Private Client Services LLC raised its stake in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after purchasing an additional 511 shares during the period. Daymark Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after purchasing an additional 547 shares during the last quarter. Platform Technology Partners grew its stake in shares of Energy Transfer by 0.8% during the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after buying an additional 553 shares during the period. Finally, Marcum Wealth LLC increased its holdings in shares of Energy Transfer by 4.6% during the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after buying an additional 561 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Up 0.4 %

Shares of Energy Transfer stock opened at $20.01 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 1-year low of $13.94 and a 1-year high of $21.45. The business has a 50-day moving average of $19.71 and a 200-day moving average of $17.65. The company has a market capitalization of $68.50 billion, a PE ratio of 14.71, a P/E/G ratio of 0.52 and a beta of 1.69.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.