Charter Oak Advisors LP Invests $13.09 Million in Energy Transfer LP (NYSE:ET)

Charter Oak Advisors LP bought a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 667,944 shares of the pipeline company’s stock, valued at approximately $13,085,000. Energy Transfer accounts for 7.5% of Charter Oak Advisors LP’s investment portfolio, making the stock its 5th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in shares of Energy Transfer by 5.1% in the 4th quarter. NewEdge Advisors LLC now owns 585,089 shares of the pipeline company’s stock valued at $11,462,000 after acquiring an additional 28,427 shares during the period. Finer Wealth Management Inc. increased its stake in Energy Transfer by 7.6% in the fourth quarter. Finer Wealth Management Inc. now owns 172,637 shares of the pipeline company’s stock valued at $3,382,000 after purchasing an additional 12,223 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Energy Transfer by 5.4% in the fourth quarter. Guggenheim Capital LLC now owns 54,141 shares of the pipeline company’s stock valued at $1,061,000 after buying an additional 2,797 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $451,000. Finally, LaSalle St. Investment Advisors LLC increased its position in Energy Transfer by 8.4% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 40,650 shares of the pipeline company’s stock valued at $796,000 after acquiring an additional 3,160 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ET. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One 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 currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Up 1.7 %

ET stock opened at $17.10 on Wednesday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a market capitalization of $58.69 billion, a P/E ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.32. The company has a 50 day moving average price of $18.41 and a two-hundred day moving average price of $18.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 7.60%. Energy Transfer’s payout ratio is currently 101.56%.

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.