Axxcess Wealth Management LLC Purchases 17,114 Shares of Energy Transfer LP (NYSE:ET)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC grew its stake in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the period. Harbor Investment Advisory LLC grew its position in Energy Transfer by 42.9% in the fourth 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 period. BluePath Capital Management LLC bought a new stake in Energy Transfer in the third quarter valued at $37,000. Community Bank N.A. raised its stake in Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at $40,000. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of several analyst reports. Citigroup upped their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group decreased their price objective 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, Mizuho reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Stock Up 1.1 %

Shares of Energy Transfer stock opened at $16.07 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. Energy Transfer LP has a 52-week low of $12.18 and a 52-week high of $16.08. The business’s 50 day simple moving average is $15.49 and its 200 day simple moving average is $14.42. The firm has a market cap of $54.13 billion, a PE ratio of 14.74 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion for 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 was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. On average, analysts predict that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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