MONECO Advisors LLC Increases Stock Position in Energy Transfer LP (NYSE:ET)

MONECO Advisors LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,449 shares of the pipeline company’s stock after buying an additional 4,502 shares during the period. MONECO Advisors LLC’s holdings in Energy Transfer were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Blue Trust Inc. boosted its position in shares of Energy Transfer by 173.1% in the 3rd quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 7,468 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Energy Transfer by 37.2% during the third quarter. Sequoia Financial Advisors LLC now owns 47,192 shares of the pipeline company’s stock valued at $757,000 after buying an additional 12,787 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Energy Transfer by 9.4% in the third quarter. Brighton Jones LLC now owns 12,686 shares of the pipeline company’s stock worth $204,000 after acquiring an additional 1,094 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Energy Transfer by 13.2% during the third quarter. Lake Street Advisors Group LLC now owns 28,103 shares of the pipeline company’s stock valued at $451,000 after acquiring an additional 3,285 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $19.40 on Monday. The firm has a fifty day simple moving average of $19.87 and a two-hundred day simple moving average of $17.93. The firm has a market cap of $66.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 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 11.56%. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Analyst Ratings Changes

ET has been the topic of a number of analyst reports. 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 research note on Wednesday, February 12th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. 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 research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

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.