Pursue Wealth Partners LLC Invests $178,000 in Energy Transfer LP (NYSE:ET)

Pursue Wealth Partners LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,906 shares of the pipeline company’s stock, valued at approximately $178,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Rise Advisors LLC increased its position in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares during the last quarter. BluePath Capital Management LLC purchased a new position in Energy Transfer in the third quarter worth approximately $37,000. Community Bank N.A. lifted its stake in Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 951 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Energy Transfer in the fourth quarter worth approximately $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded up $0.02 during trading on Friday, reaching $15.96. The company’s stock had a trading volume of 5,346,991 shares, compared to its average volume of 11,025,037. The company has a 50-day moving average price of $15.36 and a two-hundred day moving average price of $14.33. The firm has a market cap of $53.78 billion, a PE ratio of 14.64 and a beta of 1.64. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.04. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be 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 yield of 7.94%. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is currently 115.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ET. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho restated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $18.00.

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.