Ables Iannone Moore & Associates Inc. Invests $34,000 in Energy Transfer LP (NYSE:ET)

Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,500 shares of the pipeline company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its holdings in shares of Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 736 shares in the last quarter. Veracity Capital LLC boosted its stake in Energy Transfer by 2.3% during the fourth quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after buying an additional 738 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Energy Transfer by 42.9% in 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 during the period. Ethos Financial Group LLC raised its stake in shares of Energy Transfer by 5.0% in the 4th quarter. Ethos Financial Group LLC now owns 15,866 shares of the pipeline company’s stock valued at $219,000 after buying an additional 753 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock worth $3,154,000 after acquiring an additional 769 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.1 %

ET opened at $15.32 on Tuesday. The firm’s 50-day simple moving average is $15.67 and its 200-day simple moving average is $14.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.40. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.42 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same period in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 8.28%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

Wall Street Analyst Weigh In

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

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.