Energy Transfer LP (NYSE:ET) Shares Acquired by Morton Capital Management LLC CA

Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,789 shares of the pipeline company’s stock after purchasing an additional 683 shares during the quarter. Morton Capital Management LLC CA’s holdings in Energy Transfer were worth $897,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ET. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $20.24 on Friday. The company has a market cap of $69.28 billion, a PE ratio of 14.88, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.32. The firm has a 50-day simple moving average of $18.90 and a 200 day simple moving average of $17.14. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.38%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.