Bison Wealth LLC Raises Stake in Energy Transfer LP (NYSE:ET)

Bison Wealth LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,693 shares of the pipeline company’s stock after purchasing an additional 1,866 shares during the period. Bison Wealth LLC’s holdings in Energy Transfer were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ET. Rise Advisors LLC boosted its holdings in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Energy Transfer in the first quarter valued at about $25,000. IMA Wealth Inc. boosted its holdings in shares of Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 1,200 shares in the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of Energy Transfer in the third quarter valued at about $34,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Energy Transfer in the third quarter valued at about $35,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 1.0 %

Shares of NYSE ET opened at $15.08 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 52 week low of $12.18 and a 52 week high of $16.04. The firm has a 50-day moving average price of $15.10 and a 200 day moving average price of $14.21. The stock has a market capitalization of $50.81 billion, a price-to-earnings ratio of 13.83 and a beta of 1.64.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 8.36%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is presently 115.60%.

Analyst Upgrades and Downgrades

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

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.