Fairman Group LLC Invests $225,000 in Energy Transfer LP (NYSE:ET)

Fairman Group LLC bought a new position in Energy Transfer LP (NYSE:ETFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,300 shares of the pipeline company’s stock, valued at approximately $225,000.

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

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Morgan Stanley raised 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. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup raised their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, UBS Group upped 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Read Our Latest Analysis on ET

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $15.48 on Tuesday. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.40. The stock’s fifty day simple moving average is $15.67 and its 200 day simple moving average is $14.87. The company has a market capitalization of $52.17 billion, a PE ratio of 14.06, a PEG ratio of 0.42 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.19%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Energy Transfer Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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