Adell Harriman & Carpenter Inc. Buys 55,579 Shares of Energy Transfer LP (NYSE:ET)

Adell Harriman & Carpenter Inc. lifted its holdings in Energy Transfer LP (NYSE:ET) by 99.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,304 shares of the pipeline company’s stock after acquiring an additional 55,579 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Energy Transfer were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its position in shares of Energy Transfer by 64.6% during the third quarter. Brookstone Capital Management now owns 144,500 shares of the pipeline company’s stock valued at $2,027,000 after purchasing an additional 56,703 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Energy Transfer by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,131,591 shares of the pipeline company’s stock worth $15,876,000 after buying an additional 40,050 shares during the last quarter. Busey Trust CO grew its holdings in shares of Energy Transfer by 32.8% in the third quarter. Busey Trust CO now owns 16,177 shares of the pipeline company’s stock valued at $227,000 after acquiring an additional 4,000 shares in the last quarter. Cumberland Advisors Inc. increased its position in shares of Energy Transfer by 12.6% during the third quarter. Cumberland Advisors Inc. now owns 13,209 shares of the pipeline company’s stock valued at $185,000 after acquiring an additional 1,480 shares during the last quarter. Finally, Sweet Financial Partners LLC lifted its holdings in Energy Transfer by 15.7% during the third quarter. Sweet Financial Partners LLC now owns 57,968 shares of the pipeline company’s stock worth $813,000 after acquiring an additional 7,874 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ET. UBS Group reduced their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Mizuho restated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Citigroup upped their price objective 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Price Performance

ET stock traded down $0.09 during mid-day trading on Tuesday, reaching $15.89. 2,689,399 shares of the company traded hands, compared to its average volume of 12,107,591. The company has a fifty day moving average price of $15.39 and a 200-day moving average price of $14.35. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. Energy Transfer LP has a 52-week low of $12.18 and a 52-week high of $16.07. The company has a market capitalization of $53.54 billion, a P/E ratio of 14.67 and a beta of 1.64.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $21.46 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed 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. This represents a $1.27 dividend on an annualized basis and a yield of 7.98%. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is currently 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.