Summit Trail Advisors LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Summit Trail Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 64.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,532 shares of the pipeline company’s stock after purchasing an additional 22,512 shares during the quarter. Summit Trail Advisors LLC’s holdings in Energy Transfer were worth $1,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sapient Capital LLC lifted its stake in shares of Energy Transfer by 28.8% during the fourth quarter. Sapient Capital LLC now owns 14,864 shares of the pipeline company’s stock valued at $291,000 after buying an additional 3,325 shares during the period. Savant Capital LLC raised its holdings in Energy Transfer by 10.9% in the 4th quarter. Savant Capital LLC now owns 32,242 shares of the pipeline company’s stock valued at $632,000 after acquiring an additional 3,180 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $692,000. Legacy Financial Strategies LLC boosted its holdings in shares of Energy Transfer by 10.9% during the fourth quarter. Legacy Financial Strategies LLC now owns 20,391 shares of the pipeline company’s stock worth $402,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Energy Transfer by 63.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 77,088 shares of the pipeline company’s stock valued at $1,510,000 after purchasing an additional 29,851 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $19.84 on Wednesday. The firm has a market cap of $67.93 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. 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 1 year low of $13.94 and a 1 year high of $21.45. The stock has a 50-day simple moving average of $19.72 and a 200-day simple moving average of $17.68.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. On average, equities analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company 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 dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.55%. Energy Transfer’s payout ratio is 94.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ET shares. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. 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. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.82.

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.