20,606 Shares in Energy Transfer LP (NYSE:ET) Purchased by Breakwater Capital Group

Breakwater Capital Group acquired a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,606 shares of the pipeline company’s stock, valued at approximately $404,000.

A number of other large investors have also modified their holdings of the business. Empowered Funds LLC increased its holdings in Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer in the 4th quarter valued at about $1,297,000. Kingsview Wealth Management LLC grew its stake in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after acquiring an additional 57,184 shares during the period. FMR LLC grew its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. Finally, Clear Street Derivatives LLC acquired a new position in shares of Energy Transfer during the 3rd quarter valued at about $2,565,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.89 on Wednesday. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The firm has a market capitalization of $68.10 billion, a PE ratio of 14.63, a P/E/G ratio of 0.62 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The business’s fifty day moving average price is $18.85 and its two-hundred day moving average price is $17.12.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the business posted $0.31 EPS. Energy Transfer’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.49%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ET. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Profile

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.