Meriwether Wealth & Planning LLC Takes Position in Energy Transfer LP (NYSE:ET)

Meriwether Wealth & Planning LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,166 shares of the pipeline company’s stock, valued at approximately $865,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $29,000. Assetmark Inc. grew its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. United Community Bank acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $35,000. Financial Life Planners acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $37,000. Finally, Citizens National Bank Trust Department acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.2 %

Shares of NYSE ET opened at $17.48 on Monday. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 12-month low of $14.87 and a 12-month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock’s 50 day simple moving average is $19.81 and its 200 day simple moving average is $18.12.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.44%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ET shares. Citigroup raised their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted 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. Finally, Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.55.

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.