WT Wealth Management Sells 26,449 Shares of Energy Transfer LP $ET

WT Wealth Management cut its position in shares of Energy Transfer LP (NYSE:ET) by 66.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,520 shares of the pipeline company’s stock after selling 26,449 shares during the quarter. WT Wealth Management’s holdings in Energy Transfer were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fulcrum Wealth Advisors LLC acquired a new position in Energy Transfer in the fourth quarter valued at $398,000. Marks Wealth LLC grew its holdings in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 560 shares during the period. Amplify Investments LLC raised its position in shares of Energy Transfer by 21.4% in the 4th quarter. Amplify Investments LLC now owns 11,339 shares of the pipeline company’s stock worth $195,000 after acquiring an additional 2,001 shares in the last quarter. AlphaStar Capital Management LLC raised its position in shares of Energy Transfer by 25.3% in the 4th quarter. AlphaStar Capital Management LLC now owns 25,030 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 5,061 shares in the last quarter. Finally, Dudley Capital Management LLC lifted its stake in shares of Energy Transfer by 12.3% in the 4th quarter. Dudley Capital Management LLC now owns 13,657 shares of the pipeline company’s stock valued at $225,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.09 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $18.99 and a two-hundred day simple moving average of $17.75. Energy Transfer LP has a 12 month low of $15.80 and a 12 month high of $20.28. The firm has a market capitalization of $69.10 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.58 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. During the same period last year, the business posted $0.36 earnings per share. Analysts forecast that Energy Transfer LP will post 1.52 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 110.74%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. TD Cowen raised their target price on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Wells Fargo & Company increased their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Truist Financial began coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.