Stablepoint Partners LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Stablepoint Partners LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 76,244 shares of the pipeline company’s stock after acquiring an additional 3,570 shares during the period. Stablepoint Partners LLC’s holdings in Energy Transfer were worth $1,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Princeton Global Asset Management LLC lifted 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 worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. lifted its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in Energy Transfer in the 2nd quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

ET stock opened at $20.93 on Monday. The firm has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s fifty day simple moving average is $19.39 and its two-hundred day simple moving average is $17.35.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Company 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.