Energy Transfer LP (NYSE:ET) Shares Purchased by Morton Capital Management LLC CA

Morton Capital Management LLC CA raised its position in shares of Energy Transfer LP (NYSE:ET) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 42,927 shares of the pipeline company’s stock after buying an additional 785 shares during the period. Morton Capital Management LLC CA’s holdings in Energy Transfer were worth $592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Veracity Capital LLC raised its holdings in shares of Energy Transfer by 2.4% during the third quarter. Veracity Capital LLC now owns 31,465 shares of the pipeline company’s stock worth $441,000 after acquiring an additional 745 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of Energy Transfer by 2.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 776 shares in the last quarter. Global Trust Asset Management LLC lifted its holdings in Energy Transfer by 22.9% during the 4th quarter. Global Trust Asset Management LLC now owns 4,300 shares of the pipeline company’s stock worth $59,000 after buying an additional 800 shares in the last quarter. SageView Advisory Group LLC lifted its stake in shares of Energy Transfer by 3.1% in the 2nd quarter. SageView Advisory Group LLC now owns 27,336 shares of the pipeline company’s stock valued at $347,000 after purchasing an additional 819 shares during the period. Finally, Hilltop Holdings Inc. increased its holdings in Energy Transfer by 4.3% during the 2nd quarter. Hilltop Holdings Inc. now owns 20,008 shares of the pipeline company’s stock worth $254,000 after purchasing an additional 820 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

NYSE ET traded up $0.05 on Wednesday, hitting $15.54. The company had a trading volume of 11,960,889 shares, compared to its average volume of 12,613,190. The company’s fifty day moving average price is $14.65 and its 200-day moving average price is $14.01. 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 company has a market capitalization of $52.36 billion, a PE ratio of 14.26 and a beta of 1.64. Energy Transfer LP has a 12-month low of $11.79 and a 12-month high of $15.74.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, analysts predict that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. The ex-dividend date was Tuesday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.11%. Energy Transfer’s payout ratio is 115.60%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Citigroup raised their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group dropped their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.57.

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.