Ethos Financial Group LLC Purchases 1,304 Shares of Energy Transfer LP (NYSE:ET)

Ethos Financial Group LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 6.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,622 shares of the pipeline company’s stock after acquiring an additional 1,304 shares during the quarter. Ethos Financial Group LLC’s holdings in Energy Transfer were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ET. Assetmark Inc. grew its stake 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 worth $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $29,000. Financial Life Planners purchased a new position in Energy Transfer during the 4th quarter valued at about $37,000. Citizens National Bank Trust Department purchased a new position in Energy Transfer during the 4th quarter valued at about $39,000. Finally, Continuum Advisory LLC grew its holdings in Energy Transfer by 44.8% during 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 in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ET. 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 report on Thursday, December 19th. Wells Fargo & Company lifted their target price on 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 target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays lifted 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. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Performance

NYSE:ET opened at $17.72 on Friday. The business has a 50 day moving average of $19.84 and a 200 day moving average of $18.08. The company has a market capitalization of $60.79 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 1-year low of $14.87 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its earnings results 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 return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This is an increase 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 dividend on an annualized basis and a yield of 7.34%. Energy Transfer’s payout ratio is presently 101.56%.

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.