Cyndeo Wealth Partners LLC Buys New Holdings in Energy Transfer LP (NYSE:ET)

Cyndeo Wealth Partners LLC purchased a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,908 shares of the pipeline company’s stock, valued at approximately $272,000.

A number of other institutional investors have also added to or reduced their stakes in ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth about $29,000. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% in 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 last quarter. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC grew its holdings in shares of Energy Transfer by 44.8% in the third 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. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. 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 research note on Wednesday, December 18th. Barclays increased 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. 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. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Down 0.6 %

NYSE:ET opened at $20.93 on Monday. The stock has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $17.35. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45.

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

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.