Jacobi Capital Management LLC Acquires 1,754 Shares of Energy Transfer LP (NYSE:ET)

Jacobi Capital Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,679 shares of the pipeline company’s stock after buying an additional 1,754 shares during the quarter. Jacobi Capital Management LLC’s holdings in Energy Transfer were worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ET. Princeton Global Asset Management LLC raised its holdings in shares of 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 buying an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter worth about $29,000. Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter worth about $37,000. Finally, Citizens National Bank Trust Department bought a new stake in Energy Transfer during the 4th quarter worth about $39,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $19.32 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a 50 day simple moving average of $19.92 and a 200 day simple moving average of $18.01. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market capitalization of $66.27 billion, a PE ratio of 15.09, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.73%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ET shares. Citigroup boosted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays boosted 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. 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. Finally, The Goldman Sachs Group boosted their target price 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 investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Company 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.