Allworth Financial LP Increases Stake in Energy Transfer LP

Allworth Financial LP has significantly increased its ownership in Energy Transfer LP (NYSE:ET) by 59.6% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission. Following this acquisition, Allworth Financial LP owns a total of 54,067 shares of the pipeline company's stock, representing an increase of 20,187 shares in this period. The value of Allworth Financial LP's holdings in Energy Transfer amounted to approximately $1,131,000 as of the most recent SEC filing.

Other institutional investors have also adjusted their investments in Energy Transfer. For instance, Princeton Global Asset Management LLC raised its stake in the sector by 65.0% in the third quarter and currently owns 1,650 shares valued at $26,000 after buying an additional 650 shares. Similarly, Assetmark Inc. saw a staggering increase of 2,138.5% in its position during the same quarter, owning 1,746 shares valued at $28,000 after increasing its holdings by 1,668 shares. In addition, GAMMA Investing LLC established a new position valued at around $29,000, while Financial Life Planners made a new investment worth approximately $37,000 during the fourth quarter. Continuum Advisory LLC also increased its holdings by 44.8% in the third quarter and now owns 2,357 shares worth around $40,000 after buying an extra 729 shares. Currently, institutional investors hold roughly 38.22% of Energy Transfer's stock.

Recent Analyst Ratings

Recently, several research analysts have provided insights on Energy Transfer. For example, Stifel Nicolaus increased its price target on Energy Transfer from $21.00 to $23.00, assigning it a "buy" rating. Similarly, the Royal Bank of Canada raised its price target from $20.00 to $23.00 with an “outperform” rating. Barclays followed suit by boosting its target price from $22.00 to $25.00, maintaining an “overweight” rating. The Goldman Sachs Group also updated its target from $17.00 to $20.00 and assigned a “neutral” rating. Meanwhile, Wells Fargo & Company increased its target to $21.00 with an “overweight” rating. Overall, one analyst has recommended holding the stock, while ten have issued buy ratings. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Overview

As of Thursday, Energy Transfer's shares opened at $20.14. The company operates with a fifty-day simple moving average of $19.85 and a two-hundred day simple moving average of $17.86. It maintains a current ratio of 1.08, a quick ratio of 0.88, and a debt-to-equity ratio of 1.40. Energy Transfer LP has recorded a 12-month low of $14.52 and a 12-month high of $21.45, with a market capitalization of $68.94 billion. The company's price-to-earnings ratio stands at 15.73, with a P/E/G ratio of 0.52 and a beta of 1.69.

On February 11th, Energy Transfer released its quarterly earnings report, revealing earnings per share (EPS) of $0.29, which fell short of analysts' expectations averaging $0.35. The company reported a return on equity of 11.66% and a net margin of 5.74%. Research analysts predict that Energy Transfer LP will have an EPS of 1.47 for the current fiscal year.

Dividend Increase Announcement

In recent news, Energy Transfer declared an increase in its quarterly dividend. The latest dividend was paid on February 19th, with shareholders of record on February 7th receiving $0.325, up from the previous dividend of $0.32. This translates to an annualized dividend of $1.30, offering a dividend yield of 6.46%. The ex-dividend date for this payment was also February 7th. The dividend payout ratio (DPR) for Energy Transfer currently stands at 101.56%.

About Energy Transfer LP

Energy Transfer LP is recognized for providing energy-related services, owning and operating natural gas transportation pipelines and storage facilities primarily located in Texas and Oklahoma. The company manages approximately 20,090 miles of interstate natural gas pipelines and sells natural gas to various sectors, including electric utilities, independent power plants, and industrial end-users.

Investment, Shares, Earnings