Greatmark Investment Partners Inc. Purchases New Shares in Energy Transfer LP (NYSE:ET)

Greatmark Investment Partners Inc. purchased a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,712 shares of the pipeline company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently added to or reduced their stakes in ET. Assetmark Inc. grew 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 valued at $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $29,000. United Community Bank acquired a new stake in Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners acquired a new stake in Energy Transfer in the 4th quarter valued at $37,000. Finally, Tortoise Investment Management LLC grew its stake in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 3.0 %

NYSE ET opened at $18.72 on Friday. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $18.16. The firm has a market cap of $64.22 billion, a PE ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

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 analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup raised their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given 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 $21.55.

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.