CBIZ Investment Advisory Services LLC Acquires 843 Shares of Energy Transfer LP (NYSE:ET)

CBIZ Investment Advisory Services LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,614 shares of the pipeline company’s stock after acquiring an additional 843 shares during the quarter. CBIZ Investment Advisory Services LLC’s holdings in Energy Transfer were worth $51,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ET. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners bought a new stake in Energy Transfer in the fourth quarter valued at $37,000. Finally, Tortoise Investment Management LLC raised its stake in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup boosted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company raised their price objective 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. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Up 3.0 %

Shares of ET opened at $18.72 on Friday. The business’s fifty day moving average price is $19.65 and its two-hundred day moving average price is $18.17. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict 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. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s payout ratio is currently 101.56%.

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.