Plan Group Financial LLC Acquires 7,876 Shares of Energy Transfer LP (NYSE:ET)

Plan Group Financial LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,150 shares of the pipeline company’s stock after acquiring an additional 7,876 shares during the quarter. Plan Group Financial LLC’s holdings in Energy Transfer were worth $1,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC boosted its position in 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 valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in 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 in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at about $29,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $37,000. Finally, Continuum Advisory LLC grew its position in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays increased their price target 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 upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised 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 equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Stock Up 1.5 %

NYSE ET opened at $20.29 on Wednesday. The business’s fifty day simple moving average is $19.83 and its 200-day simple moving average is $17.84. 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 firm has a market cap of $69.48 billion, a PE ratio of 14.92, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.41%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

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.