12,277 Shares in Energy Transfer LP (NYSE:ET) Bought by Bridgewealth Advisory Group LLC

Bridgewealth Advisory Group LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,277 shares of the pipeline company’s stock, valued at approximately $243,000.

Several other large investors also recently bought and sold shares of the stock. Lido Advisors LLC increased its stake in Energy Transfer by 2.9% in the fourth quarter. Lido Advisors LLC now owns 320,734 shares of the pipeline company’s stock valued at $6,283,000 after purchasing an additional 8,901 shares during the period. Beacon Pointe Advisors LLC increased its holdings in shares of Energy Transfer by 16.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,307,190 shares of the pipeline company’s stock valued at $25,608,000 after purchasing an additional 185,345 shares during the period. Rinkey Investments purchased a new stake in shares of Energy Transfer during the fourth quarter worth approximately $340,000. Prosperity Consulting Group LLC lifted its holdings in shares of Energy Transfer by 24.9% during the fourth quarter. Prosperity Consulting Group LLC now owns 27,786 shares of the pipeline company’s stock worth $544,000 after purchasing an additional 5,544 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Energy Transfer in the 4th quarter valued at $102,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $17.04 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The stock has a market cap of $58.47 billion, a P/E ratio of 13.31, a PEG ratio of 0.64 and a beta of 1.32. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $17.84 and a two-hundred day moving average of $18.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 7.69%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer’s dividend payout ratio is 102.34%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ET shares. Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.09.

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.