Crowley Wealth Management Inc. Acquires New Stake in Energy Transfer LP (NYSE:ET)

Crowley Wealth Management Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,400 shares of the pipeline company’s stock, valued at approximately $47,000.

Several other institutional investors also recently made changes to their positions in the stock. Stonegate Investment Group LLC boosted its position in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC boosted its position in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after purchasing an additional 511 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares in the last quarter. Finally, Platform Technology Partners boosted its position in shares of Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after buying an additional 553 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 1.1 %

NYSE ET opened at $18.65 on Monday. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The company has a 50-day moving average of $19.57 and a 200-day moving average of $18.29. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market cap of $63.98 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.97%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ET. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Citigroup boosted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.55.

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.