16,174 Shares in Energy Transfer LP (NYSE:ET) Purchased by Potentia Wealth

Potentia Wealth bought a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,174 shares of the pipeline company’s stock, valued at approximately $317,000.

Other hedge funds also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer during the fourth quarter worth about $29,000. United Community Bank acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $35,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $18.86 on Tuesday. The company has a fifty day moving average of $19.56 and a two-hundred day moving average of $18.31. The company has a market capitalization of $64.71 billion, a PE ratio of 14.73, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its quarterly 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 return on equity of 11.56% and a net margin of 5.74%. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.89%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday. Finally, Stifel Nicolaus upped their target price 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.55.

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.