Modern Wealth Management LLC Acquires New Holdings in Energy Transfer LP (NYSE:ET)

Modern Wealth Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, HoldingsChannel.com reports. The firm bought 10,068 shares of the pipeline company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the fourth quarter valued at about $25,000. Crowley Wealth Management Inc. purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $47,000. Meridian Wealth Advisors LLC raised its position in shares of Energy Transfer by 8.5% in the 4th quarter. Meridian Wealth Advisors LLC now owns 66,228 shares of the pipeline company’s stock valued at $1,297,000 after purchasing an additional 5,174 shares during the last quarter. LPL Financial LLC boosted its stake in Energy Transfer by 8.3% in the 4th quarter. LPL Financial LLC now owns 5,118,880 shares of the pipeline company’s stock worth $100,279,000 after purchasing an additional 392,492 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its position in Energy Transfer by 8.6% during the 4th quarter. Samalin Investment Counsel LLC now owns 51,845 shares of the pipeline company’s stock worth $1,016,000 after purchasing an additional 4,095 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.9 %

Energy Transfer stock opened at $18.72 on Friday. 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 $64.22 billion, a PE ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. The stock’s 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $18.36. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last announced 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 return on equity of 11.56% and a net margin of 5.74%. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

ET has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a report on Monday. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

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.