13,394 Shares in Energy Transfer LP (NYSE:ET) Purchased by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,394 shares of the pipeline company’s stock, valued at approximately $185,000.

Other large investors have also recently made changes to their positions in the company. Northwest Financial Advisors purchased a new position in shares of Energy Transfer during the 4th quarter worth about $25,000. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC lifted its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in Energy Transfer during the 4th quarter valued at about $37,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.10 during trading hours on Monday, hitting $15.26. The company’s stock had a trading volume of 1,511,189 shares, compared to its average volume of 11,966,145. The company has a 50 day moving average of $15.68 and a 200 day moving average of $14.86. The stock has a market cap of $51.43 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.42 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12-month low of $12.46 and a 12-month high of $16.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts forecast that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a $0.317 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.31%. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ET shares. Mizuho reiterated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup boosted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group boosted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.86.

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.