LRI Investments LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

LRI Investments LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the first quarter, Holdings Channel.com reports. The fund bought 13,490 shares of the pipeline company’s stock, valued at approximately $213,000.

Other large investors have also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC boosted its stake in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the 4th quarter valued at about $34,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $37,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET traded up $0.14 during mid-day trading on Friday, hitting $16.27. 22,057,655 shares of the company traded hands, compared to its average volume of 16,657,606. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a 50-day moving average price of $15.88 and a two-hundred day moving average price of $15.35. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.50. The stock has a market cap of $54.83 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. Energy Transfer’s payout ratio is 117.43%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. UBS Group lifted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.29.

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.