Commonwealth Retirement Investments LLC Takes Position in Energy Transfer LP (NYSE:ET)

Commonwealth Retirement Investments LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the pipeline company’s stock, valued at approximately $196,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in 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 during the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the fourth quarter worth about $29,000. Financial Life Planners acquired a new stake in shares of Energy Transfer during the fourth quarter valued at about $37,000. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 2.2 %

ET stock opened at $18.96 on Tuesday. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The company’s 50 day moving average price is $19.88 and its 200 day moving average price is $17.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed 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. This represents a $1.30 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ET shares. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus increased their price target 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Company 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.