SVB Wealth LLC Invests $458,000 in Energy Transfer LP (NYSE:ET)

SVB Wealth LLC acquired a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,374 shares of the pipeline company’s stock, valued at approximately $458,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the last quarter. Private Client Services LLC boosted its position in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after acquiring an additional 535 shares during the period. Daymark Wealth Partners LLC grew its holdings in Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after acquiring an additional 547 shares during the period. Finally, Platform Technology Partners raised its position in shares of Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after acquiring an additional 553 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Down 2.9 %

Energy Transfer stock opened at $18.49 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average price is $19.90 and its two-hundred day moving average price is $18.08. The firm has a market capitalization of $63.43 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1-year low of $14.87 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday. Barclays raised their price objective 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. Citigroup lifted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.55.

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.