Adell Harriman & Carpenter Inc. Boosts Position in Energy Transfer LP (NYSE:ET)

Adell Harriman & Carpenter Inc. raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 99.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 111,304 shares of the pipeline company’s stock after acquiring an additional 55,579 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Energy Transfer were worth $1,536,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Rise Advisors LLC grew its stake in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Community Bank N.A. raised its stake in shares of Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Energy Transfer during the third quarter worth $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at $40,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.6 %

Shares of Energy Transfer stock traded down $0.09 during trading on Tuesday, reaching $15.89. The company had a trading volume of 2,689,399 shares, compared to its average volume of 12,107,591. 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 LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.07. The firm’s fifty day moving average is $15.39 and its 200-day moving average is $14.35. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 14.67 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter last year, the business posted $0.34 EPS. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.98%. Energy Transfer’s payout ratio is presently 115.60%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, UBS Group reduced their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.