Kestra Private Wealth Services LLC Has $3.48 Million Stake in Energy Transfer LP (NYSE:ET)

Kestra Private Wealth Services LLC trimmed its stake in Energy Transfer LP (NYSE:ET) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 177,522 shares of the pipeline company’s stock after selling 5,901 shares during the period. Kestra Private Wealth Services LLC’s holdings in Energy Transfer were worth $3,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ET. Princeton Global Asset Management LLC raised its stake in shares of Energy Transfer by 65.0% in the 3rd 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 in the last quarter. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter valued at approximately $37,000. Finally, Continuum Advisory LLC raised its stake in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 729 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ET shares. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Barclays lifted 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 lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $20.01 on Tuesday. Energy Transfer LP has a 1-year low of $13.94 and a 1-year high of $21.45. The firm has a market capitalization of $68.50 billion, a PE ratio of 14.71, a PEG ratio of 0.52 and a beta of 1.69. The business’s 50 day moving average is $19.71 and its 200-day moving average is $17.65. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.