Energy Transfer LP (NYSE:ET) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC increased its stake in Energy Transfer LP (NYSE:ET) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,451 shares of the pipeline company’s stock after purchasing an additional 6,881 shares during the quarter. Cornerstone Advisory LLC’s holdings in Energy Transfer were worth $834,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Northwest Financial Advisors acquired a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Rise Advisors LLC increased its holdings in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC increased its holdings in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Finally, Community Bank N.A. increased its holdings in shares of Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup increased their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus upped their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. UBS Group upped their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho reaffirmed a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $18.43.

Energy Transfer Stock Performance

ET stock traded down $0.28 during midday trading on Monday, hitting $15.39. The stock had a trading volume of 12,163,203 shares, compared to its average volume of 12,206,815. The firm has a market capitalization of $51.86 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.43 and a beta of 1.63. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40. The stock has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $14.74. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.317 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 8.24%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

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.