Scarborough Advisors LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Scarborough Advisors LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,391 shares of the pipeline company’s stock after acquiring an additional 1,752 shares during the period. Scarborough Advisors LLC’s holdings in Energy Transfer were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Energy Transfer during the 4th quarter worth about $29,000. Financial Life Planners purchased a new stake in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Continuum Advisory LLC grew its stake 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 last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. Royal Bank of Canada lifted 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. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their target price 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, Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $19.98 on Friday. The firm has a market cap of $68.42 billion, a PE ratio of 14.69, a P/E/G ratio of 0.52 and a beta of 1.69. The business has a 50-day moving average price of $19.76 and a 200 day moving average price of $17.74. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $14.09 and a twelve month high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. This is a positive change 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 dividend yield of 6.51%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.