35,317 Shares in Energy Transfer LP (NYSE:ET) Bought by Wealthstar Advisors LLC

Wealthstar Advisors LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 35,317 shares of the pipeline company’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter valued at approximately $29,000. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. Financial Life Planners purchased a new position in shares of Energy Transfer in the fourth quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $41,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of several research analyst reports. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Trading Down 2.2 %

Shares of ET opened at $19.92 on Monday. Energy Transfer LP has a twelve month low of $13.80 and a twelve month high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company’s fifty day simple moving average is $19.71 and its 200-day simple moving average is $17.64. The company has a market cap of $68.19 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.52 and a beta of 1.69.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.53%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 95.59%.

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.