Bogart Wealth LLC Raises Stake in Energy Transfer LP (NYSE:ET)

Bogart Wealth LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 32.8% in the fourth quarter, HoldingsChannel reports. The fund owned 31,760 shares of the pipeline company’s stock after acquiring an additional 7,842 shares during the period. Bogart Wealth LLC’s holdings in Energy Transfer were worth $622,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ET. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $29,000. Financial Life Planners bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $37,000. Finally, Continuum Advisory LLC boosted its position in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ET. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.18.

Energy Transfer Price Performance

ET stock opened at $19.98 on Friday. Energy Transfer LP has a 52 week low of $14.09 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $17.74. The firm has a market capitalization of $68.42 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released 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 net margin of 5.90% and a return on equity of 12.38%. Analysts anticipate that Energy Transfer LP will post 1.37 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 paid a $0.325 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. 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.