Waterfront Wealth Inc. Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Waterfront Wealth Inc. boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,338 shares of the pipeline company’s stock after buying an additional 3,167 shares during the quarter. Waterfront Wealth Inc.’s holdings in Energy Transfer were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its stake in Energy Transfer by 109,332.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after acquiring an additional 145,810,023 shares during the period. Morgan Stanley lifted its stake in shares of Energy Transfer by 20.9% during the 4th quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock valued at $906,146,000 after buying an additional 13,220,435 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,447.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after acquiring an additional 3,514,195 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.21 during midday trading on Thursday, reaching $15.44. 4,108,425 shares of the stock traded hands, compared to its average volume of 12,339,366. The company’s 50 day moving average is $15.12 and its 200 day moving average is $14.22. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04. The stock has a market capitalization of $52.02 billion, a PE ratio of 14.22 and a beta of 1.64. 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 released 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 business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. During the same quarter last year, the business earned $0.34 earnings per share. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 8.16%. This is a positive change 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 (DPR) is presently 115.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ET. UBS Group dropped their price objective 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. Mizuho reaffirmed a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday. Finally, 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 report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.71.

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.