Tyche Wealth Partners LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Tyche Wealth Partners LLC bought a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,389 shares of the pipeline company’s stock, valued at approximately $406,000.

A number of other large investors have also made changes to their positions in ET. Bank of New York Mellon Corp grew its stake in Energy Transfer by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 79,889 shares of the pipeline company’s stock valued at $894,000 after acquiring an additional 3,501 shares in the last quarter. Cibc World Market Inc. increased its stake in Energy Transfer by 0.6% in the 1st quarter. Cibc World Market Inc. now owns 424,932 shares of the pipeline company’s stock valued at $4,755,000 after buying an additional 2,403 shares during the period. Blair William & Co. IL lifted its position in Energy Transfer by 13.7% in the 1st quarter. Blair William & Co. IL now owns 260,824 shares of the pipeline company’s stock worth $2,919,000 after buying an additional 31,407 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Energy Transfer by 7.3% during the 1st quarter. Cetera Investment Advisers now owns 159,249 shares of the pipeline company’s stock valued at $1,782,000 after buying an additional 10,856 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Energy Transfer by 43.0% during the 1st quarter. NewEdge Advisors LLC now owns 192,394 shares of the pipeline company’s stock valued at $2,153,000 after acquiring an additional 57,880 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.8 %

ET opened at $15.23 on Thursday. The firm has a market cap of $51.30 billion, a P/E ratio of 13.97 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The business has a 50 day moving average price of $15.12 and a 200 day moving average price of $14.22. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the previous year, the company earned $0.34 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 1.46 EPS 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 dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 8.28%. 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. Energy Transfer’s dividend payout ratio is 115.60%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ET. UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.