Energy Transfer LP (NYSE:ET) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 34.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,950 shares of the pipeline company’s stock after buying an additional 17,114 shares during the period. Axxcess Wealth Management LLC’s holdings in Energy Transfer were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in shares of Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,447.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Energy Transfer in the third quarter valued at approximately $42,932,000. Finally, Barclays PLC lifted its position in shares of Energy Transfer by 31.1% during the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock worth $173,666,000 after buying an additional 2,933,353 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Energy Transfer Trading Up 1.1 %

NYSE:ET opened at $16.07 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $54.13 billion, a PE ratio of 14.74 and a beta of 1.63. The stock has a fifty day simple moving average of $15.49 and a 200-day simple moving average of $14.42. Energy Transfer LP has a 52-week low of $12.18 and a 52-week high of $16.08.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities research analysts expect that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a $0.317 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.89%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 115.60%.

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.