NewEdge Wealth LLC Buys 600 Shares of Energy Transfer LP (NYSE:ET)

NewEdge Wealth LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,197 shares of the pipeline company’s stock after purchasing an additional 600 shares during the quarter. NewEdge Wealth LLC’s holdings in Energy Transfer were worth $1,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after acquiring an additional 388,073 shares in the last quarter. Brookfield Corp ON boosted its position in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. increased its position in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $19.32 on Friday. The stock has a 50 day moving average price of $19.92 and a 200 day moving average price of $18.03. The firm has a market capitalization of $66.27 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price objective 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. Citigroup increased their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.55.

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.