Mill Creek Capital Advisors LLC Has $560,000 Holdings in Energy Transfer LP (NYSE:ET)

Mill Creek Capital Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 107.8% during the fourth quarter, HoldingsChannel reports. The fund owned 28,610 shares of the pipeline company’s stock after buying an additional 14,843 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Energy Transfer were worth $560,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ET. Princeton Global Asset Management LLC boosted its position 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 buying an additional 650 shares during the period. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% during 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 in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $29,000. Financial Life Planners acquired a new position in Energy Transfer during the fourth quarter worth $37,000. Finally, Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

NYSE:ET opened at $20.01 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $17.65. Energy Transfer LP has a 1-year low of $13.94 and a 1-year high of $21.45. The stock has a market cap of $68.50 billion, a P/E ratio of 14.71, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.50%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays raised their target price on shares of 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 shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer 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.