Energy Transfer LP (NYSE:ET) Shares Bought by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC grew its stake in Energy Transfer LP (NYSE:ET) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,539 shares of the pipeline company’s stock after purchasing an additional 4,486 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Energy Transfer were worth $755,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kayne Anderson Capital Advisors LP lifted its holdings in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after buying an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC lifted its stake in Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares during the last quarter. Brookfield Corp ON boosted its holdings in Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Energy Transfer by 3.0% in the 3rd quarter. Stifel Financial Corp now owns 5,527,223 shares of the pipeline company’s stock worth $88,712,000 after buying an additional 159,683 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ET shares. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. 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 report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Down 9.1 %

Energy Transfer stock opened at $16.12 on Friday. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The stock has a market cap of $55.30 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.64 and a beta of 1.72. The company’s 50-day moving average price is $19.18 and its two-hundred day moving average price is $18.43. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 8.07%. Energy Transfer’s dividend payout ratio is 101.56%.

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.