Benjamin Edwards Inc. Takes $223,000 Position in Energy Transfer LP (NYSE:ET)

Benjamin Edwards Inc. acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,374 shares of the pipeline company’s stock, valued at approximately $223,000.

Other institutional investors have also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC raised its position in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after purchasing an additional 37,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Wedbush Securities Inc. raised its position in Energy Transfer by 44.2% in the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company’s stock worth $2,650,000 after purchasing an additional 41,438 shares during the last quarter. Paragon Capital Management Ltd raised its position in Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 55,890 shares during the last quarter. Finally, FFG Partners LLC raised its position in Energy Transfer by 0.9% in the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock worth $32,335,000 after purchasing an additional 13,948 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

Shares of ET stock opened at $17.22 on Monday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm has a market capitalization of $59.09 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $17.46 and a 200-day moving average of $18.53.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.61%. Energy Transfer’s dividend payout ratio is presently 99.24%.

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.