Archford Capital Strategies LLC Buys 1,248 Shares of Energy Transfer LP (NYSE:ET)

Archford Capital Strategies LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,713 shares of the pipeline company’s stock after purchasing an additional 1,248 shares during the quarter. Archford Capital Strategies LLC’s holdings in Energy Transfer were worth $680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter valued at $29,000. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC lifted its position in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. 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 research report on Monday, January 13th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Price Performance

NYSE ET opened at $20.93 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The business has a 50 day simple moving average of $19.39 and a 200 day simple moving average of $17.35. The stock has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. Analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

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.