Laidlaw Wealth Management LLC Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Laidlaw Wealth Management LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 12.7% during the 4th quarter, HoldingsChannel reports. The fund owned 22,875 shares of the pipeline company’s stock after buying an additional 2,575 shares during the period. Laidlaw Wealth Management LLC’s holdings in Energy Transfer were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer in the fourth quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares during the period. Finally, Paragon Capital Management Ltd increased its holdings in shares of Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.5 %

Shares of NYSE:ET opened at $20.29 on Wednesday. The stock’s 50-day moving average price is $19.83 and its 200-day moving average price is $17.84. Energy Transfer LP has a 12-month low of $14.52 and a 12-month high of $21.45. The stock has a market capitalization of $69.48 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.66%. On average, equities analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current 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 issued a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ET shares. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $21.18.

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.