Crowley Wealth Management Inc. Invests $47,000 in Energy Transfer LP (NYSE:ET)

Crowley Wealth Management Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel reports. The firm bought 2,400 shares of the pipeline company’s stock, valued at approximately $47,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. United Community Bank purchased a new position in Energy Transfer in the 4th quarter worth approximately $35,000. Financial Life Planners purchased a new position in Energy Transfer in the 4th quarter worth approximately $37,000. Tortoise Investment Management LLC boosted its holdings in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. Finally, Citizens National Bank Trust Department purchased a new position in Energy Transfer in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $18.65 on Monday. 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 has a market cap of $63.98 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The stock’s 50 day simple moving average is $19.57 and its 200 day simple moving average is $18.29.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.97%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Citigroup increased their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.