Wellington Shields Capital Management LLC Raises Position in Energy Transfer LP (NYSE:ET)

Wellington Shields Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,217 shares of the pipeline company’s stock after buying an additional 17,623 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Energy Transfer were worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer in the 4th quarter worth about $29,000. United Community Bank bought a new position in Energy Transfer during the 4th quarter valued at about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ET shares. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target 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 lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Citigroup increased their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Down 1.2 %

ET stock opened at $18.19 on Friday. The business’s 50-day moving average price is $19.67 and its 200-day moving average price is $18.14. The stock has a market cap of $62.40 billion, a P/E ratio of 14.21, 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 LP has a twelve month low of $14.90 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.15%. 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%.

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.