Apollon Wealth Management LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Apollon Wealth Management LLC raised its position in Energy Transfer LP (NYSE:ET) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 308,277 shares of the pipeline company’s stock after buying an additional 25,572 shares during the period. Apollon Wealth Management LLC’s holdings in Energy Transfer were worth $6,039,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $47,000. Apollon Financial LLC lifted its stake in Energy Transfer by 10.0% in the fourth quarter. Apollon Financial LLC now owns 11,000 shares of the pipeline company’s stock valued at $215,000 after purchasing an additional 1,000 shares during the last quarter. Platform Technology Partners grew its holdings in Energy Transfer by 0.8% during the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after purchasing an additional 553 shares during the period. Barrett & Company Inc. increased its position in Energy Transfer by 9.9% in the fourth quarter. Barrett & Company Inc. now owns 11,840 shares of the pipeline company’s stock worth $232,000 after buying an additional 1,070 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at $41,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. 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 research note on Monday, January 13th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Price Performance

ET stock opened at $19.92 on Friday. Energy Transfer LP has a 1 year low of $13.80 and a 1 year high of $21.45. The firm has a 50-day moving average of $19.71 and a 200 day moving average of $17.61. 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 market cap of $68.19 billion, a P/E ratio of 14.64, a PEG ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, sell-side analysts forecast that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.53%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 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.