Fortem Financial Group LLC Purchases 5,566 Shares of Energy Transfer LP (NYSE:ET)

Fortem Financial Group LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 2.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 205,872 shares of the pipeline company’s stock after acquiring an additional 5,566 shares during the period. Energy Transfer comprises about 1.6% of Fortem Financial Group LLC’s portfolio, making the stock its 16th biggest position. Fortem Financial Group LLC’s holdings in Energy Transfer were worth $4,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. Princeton Global Asset Management LLC lifted its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. lifted its stake in shares of Energy Transfer by 2,138.5% in the third 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 bought a new stake in Energy Transfer in the fourth quarter valued at approximately $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the 2nd quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its position in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ET shares. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays boosted their price objective on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.55.

Energy Transfer Stock Down 0.4 %

Shares of NYSE:ET traded down $0.07 during trading on Monday, reaching $19.57. 7,267,416 shares of the stock were exchanged, compared to its average volume of 16,637,670. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The stock has a fifty day moving average of $18.41 and a two-hundred day moving average of $16.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market cap of $67.01 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

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.