Taylor & Morgan Wealth Management LLC Acquires Shares of 15,271 Energy Transfer LP (NYSE:ET)

Taylor & Morgan Wealth Management LLC bought a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, HoldingsChannel reports. The fund bought 15,271 shares of the pipeline company’s stock, valued at approximately $299,000.

Other hedge funds have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Energy Transfer by 25.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 12,990 shares of the pipeline company’s stock worth $211,000 after purchasing an additional 2,600 shares during the last quarter. Blair William & Co. IL increased its position in Energy Transfer by 9.2% in the 2nd quarter. Blair William & Co. IL now owns 449,772 shares of the pipeline company’s stock valued at $7,295,000 after acquiring an additional 37,927 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Energy Transfer in the second quarter worth about $290,000. Ieq Capital LLC lifted its position in shares of Energy Transfer by 8.0% during the second quarter. Ieq Capital LLC now owns 197,856 shares of the pipeline company’s stock worth $3,209,000 after purchasing an additional 14,728 shares in the last quarter. Finally, GM Advisory Group LLC increased its stake in shares of Energy Transfer by 18.2% in the 2nd quarter. GM Advisory Group LLC now owns 18,400 shares of the pipeline company’s stock valued at $298,000 after buying an additional 2,834 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada raised their target price 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 boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $20.28 on Friday. The business has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $17.19. The firm has a market capitalization of $69.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.60 and a 12 month high of $20.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

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.