1900 Wealth Management LLC Acquires 2,746 Shares of Energy Transfer LP (NYSE:ET)

1900 Wealth Management LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 195,359 shares of the pipeline company’s stock after purchasing an additional 2,746 shares during the period. 1900 Wealth Management LLC’s holdings in Energy Transfer were worth $3,827,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its position in shares of Energy Transfer by 5.6% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock worth $2,209,000 after buying an additional 7,344 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Energy Transfer by 11.8% during the third quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock worth $527,000 after acquiring an additional 3,472 shares during the period. Brookstone Capital Management boosted its position in Energy Transfer by 5.2% in the third quarter. Brookstone Capital Management now owns 216,358 shares of the pipeline company’s stock worth $3,473,000 after purchasing an additional 10,738 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Energy Transfer by 7.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 160,131 shares of the pipeline company’s stock valued at $2,570,000 after purchasing an additional 10,705 shares during the period. Finally, CWM LLC increased its position in shares of Energy Transfer by 60.6% during the 3rd quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 37,136 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET opened at $20.37 on Friday. Energy Transfer LP has a 52-week low of $13.79 and a 52-week high of $21.45. The stock’s 50-day simple moving average is $19.69 and its 200 day simple moving average is $17.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market capitalization of $69.76 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced 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. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is currently 94.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ET shares. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada lifted their price target on shares of 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 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, The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.