Wells Fargo & Company MN Raises Stake in Energy Transfer LP (NYSE:ET)

Wells Fargo & Company MN lifted its position in Energy Transfer LP (NYSE:ET) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,662,581 shares of the pipeline company’s stock after purchasing an additional 1,058,603 shares during the period. Wells Fargo & Company MN owned about 0.34% of Energy Transfer worth $228,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC raised its stake in Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company’s stock valued at $837,000 after purchasing an additional 1,486 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Energy Transfer by 15.8% during the third quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company’s stock valued at $2,314,000 after buying an additional 19,669 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Energy Transfer by 830.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 301,291 shares of the pipeline company’s stock worth $4,695,000 after buying an additional 268,912 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Energy Transfer by 50.7% during the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company’s stock worth $987,000 after acquiring an additional 20,699 shares during the last quarter. Finally, Brookfield Corp ON grew its stake in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.12 on Friday. The firm has a market capitalization of $55.30 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The firm has a 50-day moving average price of $19.18 and a 200-day moving average price of $18.44. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its earnings results 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%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 8.07%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. 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. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

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.