Shrier Wealth Management LLC Purchases New Holdings in Energy Transfer LP $ET

Shrier Wealth Management LLC acquired a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, HoldingsChannel reports. The fund acquired 42,780 shares of the pipeline company’s stock, valued at approximately $705,000.

Several other large investors also recently bought and sold shares of the company. Financial Life Planners purchased a new position in shares of Energy Transfer in the third quarter valued at approximately $34,000. Core Alternative Capital purchased a new stake in shares of Energy Transfer during the third quarter worth approximately $46,000. Global Wealth Strategies & Associates increased its position in shares of Energy Transfer by 196.4% during the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock worth $49,000 after purchasing an additional 1,964 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Energy Transfer in the 2nd quarter valued at $50,000. Finally, Golden State Wealth Management LLC lifted its holdings in Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ET shares. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Morgan Stanley boosted their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 10th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Barclays reiterated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Energy Transfer Trading Down 1.7%

Shares of ET stock opened at $19.25 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.85. The company’s 50-day moving average price is $18.63 and its 200-day moving average price is $17.44. The stock has a market cap of $66.22 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.10 and a beta of 0.63.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. Energy Transfer’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 110.74%.

About Energy Transfer

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.