FourThought Financial Partners LLC Has $1.67 Million Holdings in Energy Transfer LP (NYSE:ET)

FourThought Financial Partners LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,136 shares of the pipeline company’s stock after buying an additional 23,392 shares during the period. FourThought Financial Partners LLC’s holdings in Energy Transfer were worth $1,668,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth about $29,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department bought a new position in Energy Transfer in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $18.96 on Tuesday. The firm has a 50-day moving average of $19.88 and a 200-day moving average of $17.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a market cap of $65.04 billion, a PE ratio of 14.81, a P/E/G ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 52-week low of $14.52 and a 52-week 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 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, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.86%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. Barclays raised their price target 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 target 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 Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.50.

About Energy Transfer

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.