Hobbs Group Advisors LLC Buys 702 Shares of Energy Transfer LP (NYSE:ET)

Hobbs Group Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,862 shares of the pipeline company’s stock after buying an additional 702 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Energy Transfer were worth $272,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the 4th quarter worth approximately $25,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank bought a new stake in shares of Energy Transfer during the 4th quarter valued at $35,000. Financial Life Planners purchased a new position in Energy Transfer during the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC increased its holdings 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 purchasing an additional 1,000 shares during the period. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ET shares. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday. The Goldman Sachs Group boosted their price target 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. 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 report on Wednesday, February 12th. Morgan Stanley upped their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 0.9 %

Shares of NYSE:ET opened at $18.72 on Friday. The business has a fifty day moving average of $19.46 and a two-hundred day moving average of $18.36. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $64.22 billion, a P/E ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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, research analysts expect that Energy Transfer LP will post 1.46 earnings per share 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 issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Energy Transfer 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.