Venturi Wealth Management LLC Takes Position in Energy Transfer LP (NYSE:ET)

Venturi Wealth Management LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,109 shares of the pipeline company’s stock, valued at approximately $276,000.

A number of other hedge funds also recently modified their holdings of ET. Empowered Funds LLC lifted its holdings in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the period. Finally, Paragon Capital Management Ltd grew its stake 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 valued at $1,346,000 after buying an additional 55,890 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus increased their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Trading Down 0.7 %

Shares of Energy Transfer stock opened at $19.98 on Friday. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $17.87. The firm has a market cap of $68.54 billion, a PE ratio of 15.61, a PEG ratio of 0.53 and a beta of 1.69. Energy Transfer LP has a 1 year low of $14.52 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. Analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. Energy Transfer’s dividend payout ratio is 101.56%.

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.