Daymark Wealth Partners LLC Raises Stake in Energy Transfer LP (NYSE:ET)

Daymark Wealth Partners LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,678 shares of the pipeline company’s stock after acquiring an additional 547 shares during the period. Daymark Wealth Partners LLC’s holdings in Energy Transfer were worth $3,148,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter valued at $29,000. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% during the 3rd 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. lifted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter valued at $33,000. Finally, Continuum Advisory LLC grew its position in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $20.90 on Wednesday. The business’s fifty day moving average is $19.16 and its 200 day moving average is $17.26. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $71.54 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.53 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.78 and a twelve month high of $21.02.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. Research analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ET shares. Royal Bank of Canada boosted 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 lifted their price objective 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. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.