Atticus Wealth Management LLC Acquires 4,300 Shares of Energy Transfer LP (NYSE:ET)

Atticus Wealth Management LLC raised its stake in Energy Transfer LP (NYSE:ET) by 420.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,323 shares of the pipeline company’s stock after acquiring an additional 4,300 shares during the quarter. Atticus Wealth Management LLC’s holdings in Energy Transfer were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $29,000. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the last quarter. HWG Holdings LP acquired a new stake in Energy Transfer during the 2nd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC raised its holdings in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.6 %

Shares of Energy Transfer stock opened at $20.93 on Monday. The firm has a market cap of $71.68 billion, a PE ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The stock has a fifty day moving average price of $19.39 and a 200-day moving average price of $17.35. 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 LP has a 1 year low of $13.79 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the company earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target 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, Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $20.82.

About Energy Transfer

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.