25,638 Shares in Energy Transfer LP (NYSE:ET) Purchased by Michels Family Financial LLC

Michels Family Financial LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 25,638 shares of the pipeline company’s stock, valued at approximately $502,000.

Several other hedge funds have also recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer in the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. United Community Bank purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $35,000. Financial Life Planners bought a new position in Energy Transfer in the fourth quarter worth approximately $37,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.84 on Friday. The company’s 50-day moving average price is $17.41 and its 200-day moving average price is $18.59. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market cap of $61.22 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 99.24%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ET shares. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Morgan Stanley upped their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Mizuho raised their price target on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.64.

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.