Everstar Asset Management LLC purchased a new stake in Energy Transfer LP (NYSE:ET – Free Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 75,464 shares of the pipeline company’s stock, valued at approximately $1,244,000.
A number of other large investors have also added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. raised its stake in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 560 shares during the period. Marks Wealth LLC raised its stake in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares during the period. SP Asset Management LLC raised its stake in Energy Transfer by 2.0% in the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 589 shares during the period. Fiduciary Financial Group LLC raised its stake in Energy Transfer by 2.2% in the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 607 shares during the period. Finally, Howard Financial Services LTD. raised its stake in Energy Transfer by 0.3% in the 4th quarter. Howard Financial Services LTD. now owns 188,175 shares of the pipeline company’s stock valued at $3,103,000 after acquiring an additional 623 shares during the period. Institutional investors own 38.22% of the company’s stock.
Energy Transfer Stock Performance
ET opened at $20.18 on Friday. The firm has a market cap of $69.43 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.57. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.67. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The business’s fifty day moving average is $19.19 and its 200-day moving average is $17.95.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be given a $0.3375 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, May 8th. Energy Transfer’s dividend payout ratio is 112.50%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ET shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Stifel Nicolaus upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday. TD Cowen reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.75.
Read Our Latest Analysis on ET
Energy Transfer Profile
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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