Traynor Capital Management Inc. Acquires 1,983 Shares of Energy Transfer LP (NYSE:ET)

Traynor Capital Management Inc. grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,039 shares of the pipeline company’s stock after acquiring an additional 1,983 shares during the quarter. Traynor Capital Management Inc.’s holdings in Energy Transfer were worth $255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ET. Empowered Funds LLC increased its stake in Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $1,297,000. Kingsview Wealth Management LLC lifted its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the last quarter. Paragon Capital Management Ltd boosted its stake in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after buying an additional 55,890 shares in the last quarter. Finally, FMR LLC grew its position in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $21.07 on Friday. The business has a 50 day moving average of $19.23 and a 200 day moving average of $17.28. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a market cap of $72.14 billion, a PE ratio of 15.49, a P/E/G ratio of 0.55 and a beta of 1.70. 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 posted 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 net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced 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 dividend yield of 6.12%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analyst Ratings Changes

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

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.