Energy Transfer LP (NYSE:ET) Shares Purchased by Mattern Wealth Management LLC

Mattern Wealth Management LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 8.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,088 shares of the pipeline company’s stock after purchasing an additional 3,400 shares during the quarter. Mattern Wealth Management LLC’s holdings in Energy Transfer were worth $844,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Private Client Services LLC lifted its holdings in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares in the last quarter. Marcum Wealth LLC lifted its position in shares of Energy Transfer by 4.6% during the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after acquiring an additional 561 shares during the last quarter. Financial Freedom LLC boosted its stake in shares of Energy Transfer by 26.8% during the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 614 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in shares of Energy Transfer by 1.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 36,381 shares of the pipeline company’s stock worth $713,000 after purchasing an additional 617 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group boosted 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. Finally, Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Down 5.9 %

ET stock opened at $19.80 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a 50-day moving average of $19.39 and a two-hundred day moving average of $17.36. The stock has a market capitalization of $67.80 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

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.