Financial Freedom LLC Buys 614 Shares of Energy Transfer LP (NYSE:ET)

Financial Freedom LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,906 shares of the pipeline company’s stock after buying an additional 614 shares during the period. Financial Freedom LLC’s holdings in Energy Transfer were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the second quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC lifted its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

NYSE ET opened at $20.28 on Monday. The company has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.60 and a twelve month high of $20.40. The stock has a fifty day simple moving average of $19.02 and a 200 day simple moving average of $17.19. 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 issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.36%. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ET shares. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

About Energy Transfer

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.