Sovereign Financial Group Inc. Purchases Shares of 11,897 Energy Transfer LP (NYSE:ET)

Sovereign Financial Group Inc. acquired a new position in Energy Transfer LP (NYSE:ET) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,897 shares of the pipeline company’s stock, valued at approximately $187,000.

Several other large investors have also made changes to their positions in ET. Northwest Financial Advisors acquired a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Rise Advisors LLC raised its holdings in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC grew its holdings in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5 %

Shares of ET opened at $15.92 on Thursday. The company has a market capitalization of $53.65 billion, a P/E ratio of 14.61, a PEG ratio of 0.44 and a beta of 1.63. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.40. The business’s 50 day simple moving average is $15.70 and its 200-day simple moving average is $14.96. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last posted 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 business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the prior year, the firm posted $0.32 EPS. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.96%. Energy Transfer’s payout ratio is currently 116.51%.

Analyst Ratings Changes

Several research analysts recently commented on ET shares. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. UBS Group lifted their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Company 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.