Energy Transfer LP (NYSE:ET) Shares Acquired by Alterity Financial Group LLC

Alterity Financial Group LLC boosted its position in Energy Transfer LP (NYSE:ET) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,800 shares of the pipeline company’s stock after acquiring an additional 1,500 shares during the quarter. Alterity Financial Group LLC’s holdings in Energy Transfer were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Veracity Capital LLC increased its holdings in shares of Energy Transfer by 2.4% in the 3rd quarter. Veracity Capital LLC now owns 31,465 shares of the pipeline company’s stock valued at $441,000 after acquiring an additional 745 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Energy Transfer by 2.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 776 shares during the period. Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.9% in the fourth quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock valued at $592,000 after acquiring an additional 785 shares during the period. Global Trust Asset Management LLC grew its holdings in shares of Energy Transfer by 22.9% during the fourth quarter. Global Trust Asset Management LLC now owns 4,300 shares of the pipeline company’s stock valued at $59,000 after purchasing an additional 800 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in shares of Energy Transfer by 3.1% in the 2nd quarter. SageView Advisory Group LLC now owns 27,336 shares of the pipeline company’s stock worth $347,000 after purchasing an additional 819 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 1.2 %

Energy Transfer stock opened at $15.73 on Friday. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 14.41 and a beta of 1.64. The firm has a fifty day moving average price of $14.68 and a two-hundred day moving average price of $14.03. Energy Transfer LP has a fifty-two week low of $12.06 and a fifty-two week high of $15.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.315 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 annualized dividend and a yield of 8.01%. Energy Transfer’s dividend payout ratio is 115.60%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ET shares. Citigroup upped their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group lowered their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $17.57.

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.