Concurrent Investment Advisors LLC Boosts Position in Energy Transfer LP (NYSE:ET)

Concurrent Investment Advisors LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 35.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,826 shares of the pipeline company’s stock after buying an additional 33,723 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Energy Transfer were worth $2,543,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $29,000. Princeton Global Asset Management LLC increased 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 valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased 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 valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. Financial Life Planners purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $41,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 2.7 %

Shares of ET opened at $19.40 on Friday. Energy Transfer LP has a 52-week low of $14.52 and a 52-week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average is $19.87 and its two-hundred day moving average is $17.90. The stock has a market cap of $66.55 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its earnings results 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 return on equity of 11.56% and a net margin of 5.74%. Research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal 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. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.70%. Energy Transfer’s payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ET. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted 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. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

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.