Strategic Financial Concepts LLC Buys 705,475 Shares of Energy Transfer LP (NYSE:ET)

Strategic Financial Concepts LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 1,572.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 750,340 shares of the pipeline company’s stock after acquiring an additional 705,475 shares during the period. Strategic Financial Concepts LLC’s holdings in Energy Transfer were worth $14,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Stonegate Investment Group LLC lifted its position in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 482 shares in the last quarter. Private Client Services LLC lifted its position in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares in the last quarter. Marcum Wealth LLC lifted its position in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after acquiring an additional 561 shares in the last quarter. Finally, Financial Freedom LLC lifted its position in shares of Energy Transfer by 26.8% in the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 2.2 %

Shares of NYSE:ET opened at $19.92 on Friday. Energy Transfer LP has a 52-week low of $13.80 and a 52-week high of $21.45. The stock has a market cap of $68.19 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. The business’s 50 day moving average is $19.71 and its 200 day moving average is $17.61. 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 (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ET shares. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted 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. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

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.