Stonebridge Financial Group LLC Takes $78,000 Position in Energy Transfer LP (NYSE:ET)

Stonebridge Financial Group LLC acquired a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,000 shares of the pipeline company’s stock, valued at approximately $78,000.

Other institutional investors have also added to or reduced their stakes in the company. Clarus Group Inc. raised its stake in Energy Transfer by 0.6% during the fourth quarter. Clarus Group Inc. now owns 132,161 shares of the pipeline company’s stock worth $2,589,000 after buying an additional 831 shares during the last quarter. Mill Creek Capital Advisors LLC grew its holdings in Energy Transfer by 107.8% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 28,610 shares of the pipeline company’s stock worth $560,000 after acquiring an additional 14,843 shares during the period. Focus Financial Network Inc. grew its holdings in Energy Transfer by 5.3% during the 4th quarter. Focus Financial Network Inc. now owns 26,438 shares of the pipeline company’s stock worth $518,000 after acquiring an additional 1,340 shares during the period. Summit Trail Advisors LLC raised its position in shares of Energy Transfer by 64.3% in the 4th quarter. Summit Trail Advisors LLC now owns 57,532 shares of the pipeline company’s stock worth $1,127,000 after acquiring an additional 22,512 shares in the last quarter. Finally, Sapient Capital LLC lifted its stake in shares of Energy Transfer by 28.8% in the 4th quarter. Sapient Capital LLC now owns 14,864 shares of the pipeline company’s stock valued at $291,000 after purchasing an additional 3,325 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company increased their target price 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. Finally, Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.18.

Energy Transfer Trading Down 0.6 %

ET opened at $19.70 on Thursday. Energy Transfer LP has a fifty-two week low of $13.95 and a fifty-two week high of $21.45. The firm has a market capitalization of $67.45 billion, a PE ratio of 14.49, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company’s 50-day moving average is $19.73 and its 200 day moving average is $17.71.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. As a group, research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.60%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s 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.