RWA Wealth Partners LLC Acquires New Position in Energy Transfer LP (NYSE:ET)

RWA Wealth Partners LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel reports. The firm acquired 18,835 shares of the pipeline company’s stock, valued at approximately $260,000.

Several other large investors have also modified their holdings of the business. Activest Wealth Management grew its position in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 736 shares during the last quarter. Veracity Capital LLC grew its position in Energy Transfer by 2.3% during the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 738 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 776 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of Energy Transfer by 1.9% in the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock valued at $592,000 after acquiring an additional 785 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ET. UBS Group dropped their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup upped their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Mizuho reaffirmed a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $15.95 on Friday. The company’s fifty day moving average price is $15.33 and its 200 day moving average price is $14.31. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.04. The company has a market capitalization of $53.72 billion, a PE ratio of 14.63 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.48 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 7.95%. Energy Transfer’s dividend payout ratio is 115.60%.

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.