American Research & Management Co. lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 23.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,590 shares of the pipeline company’s stock after buying an additional 40,876 shares during the period. American Research & Management Co.’s holdings in Energy Transfer were worth $1,648,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Paces Ferry Wealth Advisors LLC acquired a new stake in Energy Transfer in the 3rd quarter valued at about $26,000. Perigon Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $28,000. Bellwether Advisors LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $30,000. Dimension Capital Management LLC acquired a new stake in Energy Transfer in the 3rd quarter valued at about $35,000. Finally, Concord Wealth Partners acquired a new stake in Energy Transfer in the 4th quarter valued at about $35,000. Institutional investors own 36.42% of the company’s stock.
Shares of ET stock traded down $0.10 on Thursday, hitting $7.70. 103,750 shares of the company’s stock were exchanged, compared to its average volume of 22,596,764. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.02 and a quick ratio of 0.73. Energy Transfer LP has a 12 month low of $4.98 and a 12 month high of $9.55. The stock has a market cap of $20.81 billion, a P/E ratio of -78.00 and a beta of 2.54. The company has a 50 day moving average of $7.85 and a 200 day moving average of $6.63.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 19th. Investors of record on Monday, February 8th were given a dividend of $0.1525 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.61 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio is currently 42.07%.
Several research analysts have weighed in on ET shares. Zacks Investment Research raised shares of Energy Transfer from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd. UBS Group increased their price target on shares of Energy Transfer from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Barclays raised shares of Energy Transfer from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $9.00 to $10.00 in a report on Tuesday, January 12th. Piper Sandler raised shares of Energy Transfer from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.00 to $9.00 in a report on Monday, March 1st. Finally, Credit Suisse Group raised their target price on shares of Energy Transfer from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $9.92.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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