Madrona Financial Services LLC Acquires Shares of 12,810 Energy Transfer LP (NYSE:ET)

Madrona Financial Services LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,810 shares of the pipeline company’s stock, valued at approximately $251,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON lifted its holdings in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after purchasing an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ET shares. Wells Fargo & Company raised 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. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada lifted 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.8 %

Shares of NYSE ET opened at $21.10 on Thursday. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The business has a 50-day simple moving average of $19.23 and a two-hundred day simple moving average of $17.28. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $72.23 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate 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 last year, the company earned $0.31 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal 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 $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.12%. Energy Transfer’s payout ratio is currently 94.85%.

Energy Transfer 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.