IAG Wealth Partners LLC Buys 4,467 Shares of Energy Transfer LP (NYSE:ET)

IAG Wealth Partners LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 74.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,456 shares of the pipeline company’s stock after acquiring an additional 4,467 shares during the quarter. IAG Wealth Partners LLC’s holdings in Energy Transfer were worth $205,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter worth about $29,000. Assetmark Inc. lifted its position 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 buying an additional 1,668 shares in the last quarter. United Community Bank bought a new stake in Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter worth about $37,000. Finally, Tortoise Investment Management LLC lifted its position in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of 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 upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Citigroup upped their target price 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 upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $18.42 on Thursday. The company’s 50 day moving average price is $19.70 and its two-hundred day moving average price is $18.14. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The firm has a market cap of $63.19 billion, a PE ratio of 14.39, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced 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 return on equity of 11.56% and a net margin of 5.74%. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.