Walker Asset Management LLC Acquires 3,394 Shares of Energy Transfer LP (NYSE:ET)

Walker Asset Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 27.8% in the fourth quarter, Holdings Channel reports. The fund owned 15,597 shares of the pipeline company’s stock after purchasing an additional 3,394 shares during the quarter. Walker Asset Management LLC’s holdings in Energy Transfer were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Client Services LLC increased its position 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 acquiring an additional 511 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of Energy Transfer by 4.6% during the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after purchasing an additional 561 shares during the period. Fortis Capital Management LLC grew its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Finally, Haverford Trust Co lifted its stake in Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $20.28 on Friday. The company has a market cap of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The firm’s 50 day moving average price is $18.96 and its 200-day moving average price is $17.16. 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 52-week low of $13.60 and a 52-week high of $20.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.36%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analyst Weigh In

ET has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company 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 company. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target 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.