Golden State Wealth Management LLC Acquires New Position in Energy Transfer LP (NYSE:ET)

Golden State Wealth Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,072 shares of the pipeline company’s stock, valued at approximately $41,000.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the third 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. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $29,000. Financial Life Planners acquired a new stake in shares of Energy Transfer in the fourth quarter worth $37,000. Finally, Continuum Advisory LLC raised its holdings in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $19.84 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market capitalization of $67.93 billion, a PE ratio of 14.59, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a fifty-two week low of $13.94 and a fifty-two week high of $21.45. The company has a fifty day moving average of $19.72 and a two-hundred day moving average of $17.68.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. As a group, research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analyst Upgrades and Downgrades

ET has been the topic of several recent research reports. The Goldman Sachs Group upped 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 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 initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

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.