Yarger Wealth Strategies LLC Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

Yarger Wealth Strategies LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,225 shares of the pipeline company’s stock after acquiring an additional 722 shares during the quarter. Yarger Wealth Strategies LLC’s holdings in Energy Transfer were worth $396,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ET. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Energy Transfer by 2,138.5% in 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 during the period. GAMMA Investing LLC bought a new position in Energy Transfer in the fourth quarter worth approximately $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $20.24 on Friday. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.32. The company has a market cap of $69.28 billion, a PE ratio of 14.88, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The business has a 50-day simple moving average of $18.90 and a two-hundred day simple moving average of $17.14.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the business earned $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on ET. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

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.