14,460 Shares in Energy Transfer LP (NYSE:ET) Bought by American Money Management LLC

American Money Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,460 shares of the pipeline company’s stock, valued at approximately $283,000.

Several other large investors have also recently made changes to their positions in ET. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in 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 valued at $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its holdings in Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares during the period. Paragon Capital Management Ltd increased its position in 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 buying an additional 55,890 shares during the last quarter. Finally, FFG Partners LLC lifted its position in shares of Energy Transfer by 0.9% during the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock valued at $32,335,000 after buying an additional 13,948 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

NYSE:ET opened at $18.72 on Friday. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The stock has a fifty day moving average of $19.46 and a 200 day moving average of $18.37. 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 firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued 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 net margin of 5.74% and a return on equity of 11.56%. On average, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. 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 currently 101.56%.

Analyst Ratings Changes

ET has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Company 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.