Waterfront Wealth Inc. Grows Stock Position in Energy Transfer LP (NYSE:ET)

Waterfront Wealth Inc. lifted its stake in Energy Transfer LP (NYSE:ET) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,338 shares of the pipeline company’s stock after acquiring an additional 3,167 shares during the quarter. Waterfront Wealth Inc.’s holdings in Energy Transfer were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. VitalStone Financial LLC increased its holdings in Energy Transfer by 100.0% in the first quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock valued at $25,000 after buying an additional 1,500 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Energy Transfer in the 1st quarter valued at about $25,000. Rise Advisors LLC increased its stake in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares in the last quarter. IMA Wealth Inc. raised its holdings in Energy Transfer by 100.0% in the 2nd quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 1,200 shares during the period. Finally, Ronald Blue Trust Inc. purchased a new position in Energy Transfer during the third quarter worth approximately $34,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE ET traded up $0.21 during mid-day trading on Thursday, hitting $15.44. The stock had a trading volume of 4,108,425 shares, compared to its average volume of 12,339,366. The firm’s 50 day moving average is $15.12 and its 200 day moving average is $14.22. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 14.22 and a beta of 1.64. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 8.16%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ET. Citigroup upped their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday. Finally, UBS Group decreased their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.71.

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.