Cornerstone Wealth Management LLC Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Cornerstone Wealth Management LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 44,322 shares of the pipeline company’s stock after buying an additional 1,142 shares during the period. Cornerstone Wealth Management LLC’s holdings in Energy Transfer were worth $868,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after purchasing an additional 547 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after purchasing an additional 561 shares during the last quarter. Financial Freedom LLC increased its stake in Energy Transfer by 26.8% in the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock worth $57,000 after buying an additional 614 shares during the period. Finally, Fortis Capital Management LLC lifted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after buying an additional 634 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ET has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Down 0.6 %

NYSE ET opened at $20.93 on Friday. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a 50 day moving average price of $19.39 and a 200 day moving average price of $17.34. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $71.68 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.16%. Energy Transfer’s payout ratio is 94.85%.

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.