Marcum Wealth LLC Acquires 561 Shares of Energy Transfer LP (NYSE:ET)

Marcum Wealth LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,847 shares of the pipeline company’s stock after buying an additional 561 shares during the quarter. Marcum Wealth LLC’s holdings in Energy Transfer were worth $252,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock valued at $1,532,000 after purchasing an additional 23,079 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Energy Transfer by 0.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 174,002 shares of the pipeline company’s stock valued at $2,822,000 after acquiring an additional 1,020 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Energy Transfer by 10.1% during the second quarter. Brown Brothers Harriman & Co. now owns 31,806 shares of the pipeline company’s stock valued at $516,000 after acquiring an additional 2,911 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its holdings in Energy Transfer by 14.0% during the second quarter. Total Clarity Wealth Management Inc. now owns 19,333 shares of the pipeline company’s stock worth $314,000 after acquiring an additional 2,377 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its position in Energy Transfer by 25.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 12,990 shares of the pipeline company’s stock worth $211,000 after purchasing an additional 2,600 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Up 2.2 %

Shares of ET stock opened at $19.89 on Wednesday. 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 firm has a market cap of $68.10 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The business has a 50-day moving average price of $18.85 and a two-hundred day moving average price of $17.12. Energy Transfer LP has a 12-month low of $13.60 and a 12-month high of $20.02.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Ratings Changes

A number of research firms recently commented on ET. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.