Energy Transfer LP (NYSE:ET) Stock Position Raised by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. boosted its holdings in Energy Transfer LP (NYSE:ET) by 17.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,274 shares of the pipeline company’s stock after acquiring an additional 2,974 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Energy Transfer were worth $343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stockman Wealth Management Inc. boosted its position in Energy Transfer by 4.9% during the 1st quarter. Stockman Wealth Management Inc. now owns 62,566 shares of the pipeline company’s stock valued at $1,163,000 after purchasing an additional 2,900 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 12.1% during the first quarter. Sagespring Wealth Partners LLC now owns 21,786 shares of the pipeline company’s stock valued at $405,000 after acquiring an additional 2,344 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Energy Transfer by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 624,361 shares of the pipeline company’s stock valued at $11,607,000 after acquiring an additional 13,434 shares during the period. M.E. Allison & CO. Inc. grew its position in shares of Energy Transfer by 32.9% during the first quarter. M.E. Allison & CO. Inc. now owns 20,192 shares of the pipeline company’s stock worth $375,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Mission Wealth Management LP increased its holdings in shares of Energy Transfer by 1.8% in the 1st quarter. Mission Wealth Management LP now owns 52,981 shares of the pipeline company’s stock worth $985,000 after acquiring an additional 953 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ET has been the subject of several recent analyst reports. 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 research report on Tuesday, March 25th. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $18.14 on Tuesday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. 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 stock has a market cap of $62.25 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The company’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $18.57.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.22%. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

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.