60,000 Shares in Energy Transfer LP (NYSE:ET) Bought by Connective Portfolio Management LLC

Connective Portfolio Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 60,000 shares of the pipeline company’s stock, valued at approximately $1,175,000. Energy Transfer comprises about 1.7% of Connective Portfolio Management LLC’s holdings, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Client Services LLC lifted its position in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Marcum Wealth LLC grew its stake in Energy Transfer by 4.6% during the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after acquiring an additional 561 shares in the last quarter. Fortis Capital Management LLC boosted its position in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Finally, Haverford Trust Co grew its holdings in shares of Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after purchasing an additional 675 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.04 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.32. The business has a fifty day moving average of $18.85 and a 200 day moving average of $17.12. The firm has a market capitalization of $68.62 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the firm posted $0.31 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.44%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

ET has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.