Fairvoy Private Wealth LLC Acquires New Stake in Energy Transfer LP (NYSE:ET)

Fairvoy Private Wealth LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel reports. The firm bought 18,072 shares of the pipeline company’s stock, valued at approximately $354,000.

Several other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its position in shares of Energy Transfer by 1,572.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock worth $14,699,000 after purchasing an additional 705,475 shares in the last quarter. Leo Wealth LLC increased its stake in Energy Transfer by 7.3% during the 4th quarter. Leo Wealth LLC now owns 40,310 shares of the pipeline company’s stock worth $790,000 after buying an additional 2,735 shares during the period. 1900 Wealth Management LLC lifted its holdings in Energy Transfer by 1.4% during the 4th quarter. 1900 Wealth Management LLC now owns 195,359 shares of the pipeline company’s stock worth $3,827,000 after buying an additional 2,746 shares in the last quarter. Financial Synergies Wealth Advisors Inc. purchased a new position in Energy Transfer in the 4th quarter valued at approximately $207,000. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of Energy Transfer in the fourth quarter worth $673,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ET shares. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Down 2.2 %

ET stock opened at $19.92 on Friday. The stock has a market cap of $68.19 billion, a P/E ratio of 14.64, a PEG ratio of 0.54 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.80 and a twelve month high of $21.45. The company’s 50 day moving average is $19.71 and its two-hundred day moving average is $17.61.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the business earned $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.53%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 94.85%.

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.