Stonebridge Financial Group LLC Makes New $78,000 Investment in Energy Transfer LP (NYSE:ET)

Stonebridge Financial Group LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,000 shares of the pipeline company’s stock, valued at approximately $78,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth about $29,000. Financial Life Planners acquired a new stake in Energy Transfer during the fourth quarter worth about $37,000. Finally, Continuum Advisory LLC increased its holdings in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $19.70 on Thursday. 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 stock has a market cap of $67.45 billion, a PE ratio of 14.49, a PEG ratio of 0.52 and a beta of 1.69. Energy Transfer LP has a 12-month low of $13.95 and a 12-month high of $21.45. The business has a 50-day simple moving average of $19.73 and a two-hundred day simple moving average of $17.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.60%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ET shares. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $21.18.

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.