Spire Wealth Management Acquires 21,894 Shares of Energy Transfer LP (NYSE:ET)

Spire Wealth Management lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 25.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,848 shares of the pipeline company’s stock after buying an additional 21,894 shares during the quarter. Spire Wealth Management’s holdings in Energy Transfer were worth $1,501,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ET. Rise Advisors LLC grew its holdings in 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 purchasing an additional 927 shares during the period. 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 worth $34,000 after purchasing an additional 750 shares in the last quarter. Community Bank N.A. grew its stake in shares of Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after buying an additional 951 shares during the period. Fortitude Family Office LLC bought a new stake in Energy Transfer in the 4th quarter valued at about $40,000. Finally, Activest Wealth Management raised its stake in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after buying an additional 736 shares during the period. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Up 0.1 %

ET stock opened at $16.14 on Wednesday. The firm has a market capitalization of $54.38 billion, a PE ratio of 14.78 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.20. The stock’s 50 day moving average is $15.52 and its 200-day moving average is $14.43.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period last year, the business earned $0.34 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.56 EPS 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 $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.86%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 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.