Energy Transfer LP (NYSE:ET) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,575 shares of the pipeline company’s stock after buying an additional 2,120 shares during the quarter. Magnus Financial Group LLC’s holdings in Energy Transfer were worth $462,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after buying an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Citigroup Inc. increased its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after acquiring an additional 1,269,778 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

NYSE:ET opened at $20.94 on Thursday. The stock has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a PEG ratio of 0.53 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The company has a 50 day moving average price of $19.16 and a 200 day moving average price of $17.26.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $21.59 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Energy Transfer 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.