CWA Asset Management Group LLC Has $913,000 Holdings in Energy Transfer LP (NYSE:ET)

CWA Asset Management Group LLC increased its position in Energy Transfer LP (NYSE:ET) by 99.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,598 shares of the pipeline company’s stock after acquiring an additional 23,249 shares during the quarter. CWA Asset Management Group LLC’s holdings in Energy Transfer were worth $913,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the last quarter. FMR LLC boosted 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 acquiring an additional 10,195,768 shares during the period. Clear Street Derivatives LLC acquired a new stake in shares of Energy Transfer in the third quarter worth $2,565,000. Finally, GFS Advisors LLC increased its position in Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 59,692 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

NYSE:ET opened at $19.50 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $66.77 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 12 month low of $13.60 and a 12 month high of $20.02. The company’s 50-day moving average price is $18.54 and its two-hundred day moving average price is $16.99.

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

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.62%. Energy Transfer’s dividend payout ratio is 94.85%.

Analysts Set New Price Targets

Several research firms have issued reports on ET. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays upped their price target on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, December 20th. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.55.

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.