Lee Danner & Bass Inc. Makes New Investment in Energy Transfer LP (NYSE:ET)

Lee Danner & Bass Inc. acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,000 shares of the pipeline company’s stock, valued at approximately $59,000.

Other institutional investors also recently bought and sold shares of the company. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC boosted its stake in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the period. Wealthspire Advisors LLC boosted its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after purchasing an additional 547 shares during the period. Finally, Platform Technology Partners boosted its stake in shares of Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after purchasing an additional 553 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ET shares. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup upped their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their price target 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. Finally, Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Down 1.1 %

Shares of NYSE:ET opened at $18.65 on Friday. The stock has a market capitalization of $63.98 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45. The company’s fifty day moving average is $19.57 and its two-hundred day moving average is $18.27. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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

Energy Transfer Increases Dividend

The company also recently declared 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 of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.97%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 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.