Magnus Financial Group LLC Has $211,000 Position in Energy Transfer LP (NYSE:ET)

Magnus Financial Group LLC grew its position in Energy Transfer LP (NYSE:ET) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,325 shares of the pipeline company’s stock after purchasing an additional 2,574 shares during the quarter. Magnus Financial Group LLC’s holdings in Energy Transfer were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in Energy Transfer by 21.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 6,755 shares of the pipeline company’s stock valued at $93,000 after acquiring an additional 1,177 shares in the last quarter. Intellectus Partners LLC lifted its position in Energy Transfer by 8.0% in the fourth quarter. Intellectus Partners LLC now owns 102,545 shares of the pipeline company’s stock worth $1,415,000 after purchasing an additional 7,599 shares during the period. Pursue Wealth Partners LLC acquired a new stake in Energy Transfer during the fourth quarter worth $178,000. Transcend Capital Advisors LLC increased its holdings in Energy Transfer by 11.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 77,731 shares of the pipeline company’s stock valued at $1,073,000 after buying an additional 7,887 shares during the period. Finally, Terril Brothers Inc. raised its stake in shares of Energy Transfer by 0.9% in the 4th quarter. Terril Brothers Inc. now owns 178,102 shares of the pipeline company’s stock valued at $2,458,000 after buying an additional 1,552 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Energy Transfer Stock Performance

Shares of ET opened at $16.00 on Tuesday. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 14.67 and a beta of 1.64. Energy Transfer LP has a 12 month low of $12.18 and a 12 month high of $16.07. The firm has a fifty day simple moving average of $15.39 and a 200 day simple moving average of $14.35. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 1.57 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.93%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s 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.