ArchPoint Investors Increases Holdings in Energy Transfer LP (NYSE:ET)

ArchPoint Investors increased its stake in Energy Transfer LP (NYSE:ET) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 174,238 shares of the pipeline company’s stock after buying an additional 1,668 shares during the quarter. Energy Transfer accounts for approximately 1.1% of ArchPoint Investors’ portfolio, making the stock its 21st largest holding. ArchPoint Investors’ holdings in Energy Transfer were worth $3,413,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC boosted its position in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 482 shares during the period. Private Client Services LLC lifted its position in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares during the last quarter. Cannell & Spears LLC lifted its holdings in shares of Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after acquiring an additional 547 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 9.1 %

NYSE ET opened at $16.12 on Monday. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45. The stock has a market capitalization of $55.30 billion, a PE ratio of 12.59, a PEG ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The business’s 50-day moving average is $19.18 and its 200 day moving average is $18.46.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. Sell-side analysts forecast 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. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.07%. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research reports. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

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.