Joseph P. Lucia & Associates LLC Raises Position in Energy Transfer LP (NYSE:ET)

Joseph P. Lucia & Associates LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,370 shares of the pipeline company’s stock after acquiring an additional 13,693 shares during the quarter. Joseph P. Lucia & Associates LLC’s holdings in Energy Transfer were worth $1,300,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ET. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in 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. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $19.80 on Tuesday. The company has a 50-day simple moving average of $19.39 and a 200 day simple moving average of $17.36. The company has a market capitalization of $67.80 billion, a P/E ratio of 14.56, a PEG ratio of 0.55 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ET. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target 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.