Next Level Wealth Planning LLC Acquires Shares of 15,287 Energy Transfer LP (NYSE:ET)

Next Level Wealth Planning LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel.com reports. The firm acquired 15,287 shares of the pipeline company’s stock, valued at approximately $299,000.

A number of other institutional investors have also modified their holdings of ET. FMR LLC grew its position in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Chickasaw Capital Management LLC grew its position in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after acquiring an additional 388,073 shares during the period. Brookfield Corp ON grew its position in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares during the period. BNP Paribas Financial Markets grew its position in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the period. Finally, Citigroup Inc. grew its position in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after acquiring an additional 3,013,973 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Trading Up 0.8 %

ET opened at $19.98 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company’s 50 day simple moving average is $19.78 and its two-hundred day simple moving average is $17.76. Energy Transfer LP has a 1-year low of $14.09 and a 1-year high of $21.45. The firm has a market capitalization of $68.42 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 94.85%.

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.