Stockman Wealth Management Inc. Raises Position in Energy Transfer LP (NYSE:ET)

Stockman Wealth Management Inc. lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,916 shares of the pipeline company’s stock after acquiring an additional 28,048 shares during the period. Stockman Wealth Management Inc.’s holdings in Energy Transfer were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alps Advisors Inc. increased its position in Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after acquiring an additional 7,097,074 shares during the period. UBS Group AG boosted its holdings in shares of Energy Transfer by 3.9% in the third quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock worth $354,599,000 after acquiring an additional 953,251 shares during the period. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 7.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock worth $210,071,000 after acquiring an additional 1,060,322 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Energy Transfer by 31.1% in the third quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock worth $173,666,000 after acquiring an additional 2,933,353 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

NYSE ET traded up $0.07 during trading hours on Monday, reaching $15.84. 9,950,683 shares of the stock traded hands, compared to its average volume of 12,493,024. The stock has a 50 day simple moving average of $15.23 and a two-hundred day simple moving average of $14.27. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market cap of $53.37 billion, a price-to-earnings ratio of 14.53 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $21.46 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 7.95%. Energy Transfer’s dividend payout ratio (DPR) is presently 115.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group dropped their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Mizuho reissued a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday. Finally, Citigroup lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.