Energy Transfer LP (NYSE:ET) Shares Bought by Diversify Advisory Services LLC

Diversify Advisory Services LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 917,815 shares of the pipeline company’s stock after purchasing an additional 11,026 shares during the quarter. Energy Transfer makes up about 1.0% of Diversify Advisory Services LLC’s investment portfolio, making the stock its 18th largest holding. Diversify Advisory Services LLC’s holdings in Energy Transfer were worth $17,824,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ET. FMR LLC grew its position in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the last quarter. Citigroup Inc. raised its position in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

ET opened at $20.28 on Monday. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.40. The company has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. The business has a 50 day moving average price of $19.02 and a two-hundred day moving average price of $17.19. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Research analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.