Magnus Financial Group LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Magnus Financial Group LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,325 shares of the pipeline company’s stock after purchasing an additional 2,574 shares during the period. Magnus Financial Group LLC’s holdings in Energy Transfer were worth $211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Rise Advisors LLC lifted its position in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Energy Transfer in the third quarter valued at $37,000. Community Bank N.A. increased its position in Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 951 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Energy Transfer during the fourth quarter valued at $40,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Up 0.2 %

Shares of NYSE ET opened at $16.00 on Tuesday. The company has a market cap of $53.89 billion, a P/E ratio of 14.67 and a beta of 1.64. The firm has a 50-day simple moving average of $15.39 and a two-hundred day simple moving average of $14.35. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.07. 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 (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter in the previous year, the business earned $0.34 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a $0.317 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.93%. Energy Transfer’s dividend payout ratio is presently 115.60%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ET shares. Mizuho restated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group lowered 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. Finally, Citigroup boosted their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.