Spire Wealth Management Buys 21,894 Shares of Energy Transfer LP (NYSE:ET)

Spire Wealth Management boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 25.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,848 shares of the pipeline company’s stock after purchasing an additional 21,894 shares during the quarter. Spire Wealth Management’s holdings in Energy Transfer were worth $1,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its position 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 during the period. Harbor Investment Advisory LLC boosted its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Community Bank N.A. grew its position in Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 951 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Energy Transfer during the 4th quarter worth about $40,000. Finally, Activest Wealth Management raised its position in shares of Energy Transfer by 33.9% during the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after buying an additional 736 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ET shares. Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group cut their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Up 0.1 %

NYSE ET opened at $16.14 on Wednesday. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average is $15.52 and its two-hundred day moving average is $14.43. The company has a market capitalization of $54.38 billion, a price-to-earnings ratio of 14.78 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.86%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is currently 115.60%.

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.