Ieq Capital LLC Acquires 12,801 Shares of Energy Transfer LP (NYSE:ET)

Ieq Capital LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.4% during the 4th quarter, HoldingsChannel reports. The fund owned 211,532 shares of the pipeline company’s stock after buying an additional 12,801 shares during the period. Ieq Capital LLC’s holdings in Energy Transfer were worth $4,144,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter worth about $29,000. Princeton Global Asset Management LLC raised its holdings 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 worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings in 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 during the last quarter. Financial Life Planners purchased a new position in Energy Transfer in the fourth quarter worth about $37,000. Finally, Golden State Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter worth about $41,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ET. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company boosted their price objective 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. 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, January 13th. The Goldman Sachs Group boosted their price objective 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. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.40 on Friday. The firm has a 50 day moving average of $19.87 and a 200 day moving average of $17.90. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 12-month low of $14.52 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. 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 6.70%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.