Energy Transfer LP (NYSE:ET) Stock Position Lifted by Finer Wealth Management Inc.

Finer Wealth Management Inc. boosted its stake in Energy Transfer LP (NYSE:ET) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,637 shares of the pipeline company’s stock after buying an additional 12,223 shares during the quarter. Energy Transfer makes up about 1.9% of Finer Wealth Management Inc.’s holdings, making the stock its 15th biggest position. Finer Wealth Management Inc.’s holdings in Energy Transfer were worth $3,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Stonegate Investment Group LLC raised its holdings in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC raised its holdings in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after buying an additional 511 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares during the last quarter. Cannell & Spears LLC boosted its stake in shares of Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares in the last quarter. Finally, Daymark Wealth Partners LLC increased its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.7 %

Shares of ET opened at $17.10 on Wednesday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a 50-day moving average price of $18.41 and a two-hundred day moving average price of $18.43. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were 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 annualized dividend and a yield of 7.60%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. 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 report on Thursday, December 19th. Barclays boosted their target price 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. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

About Energy Transfer

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.