SeaCrest Wealth Management LLC Has $659,000 Stake in Energy Transfer LP (NYSE:ET)

SeaCrest Wealth Management LLC grew its position in Energy Transfer LP (NYSE:ET) by 27.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,621 shares of the pipeline company’s stock after buying an additional 7,147 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Energy Transfer were worth $659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ET. Private Client Services LLC increased its holdings in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. Marcum Wealth LLC boosted its holdings in shares of Energy Transfer by 4.6% during the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after buying an additional 561 shares during the period. Fortis Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares during the period. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Finally, Haverford Trust Co raised its holdings in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after acquiring an additional 675 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET stock opened at $20.24 on Friday. The company’s 50-day moving average price is $18.90 and its two-hundred day moving average price is $17.14. The firm has a market cap of $69.28 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.60 and a 12 month high of $20.32.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.38%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. 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 research report on Wednesday, December 18th. Finally, Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

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.