Garrett Wealth Advisory Group LLC Increases Stake in Energy Transfer LP (NYSE:ET)

Garrett Wealth Advisory Group LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,479,818 shares of the pipeline company’s stock after purchasing an additional 615 shares during the period. Energy Transfer comprises about 24.4% of Garrett Wealth Advisory Group LLC’s holdings, making the stock its largest holding. Garrett Wealth Advisory Group LLC owned about 0.16% of Energy Transfer worth $107,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the period. Citigroup Inc. grew its holdings in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the last quarter. Prospera Private Wealth LLC increased its position in Energy Transfer by 1,680.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after acquiring an additional 730,706 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of Energy Transfer by 1,572.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after acquiring an additional 705,475 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.32 on Monday. The stock has a market capitalization of $66.27 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock’s 50 day moving average price is $19.92 and its two-hundred day moving average price is $18.04.

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 the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Analyst Ratings Changes

ET has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Citigroup upped their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.55.

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.