Edmond DE Rothschild Holding S.A. purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 30,499 shares of the pipeline company's stock, valued at approximately $597,000.
A number of other large investors have also modified their holdings of ET. Thrivent Financial for Lutherans boosted its position in Energy Transfer by 57.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company's stock valued at $348,000 after purchasing an additional 7,870 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of Energy Transfer by 2.9% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company's stock worth $837,000 after purchasing an additional 1,486 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of Energy Transfer by 340.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company's stock valued at $1,034,000 after acquiring an additional 49,802 shares during the last quarter. Harmony Asset Management LLC lifted its holdings in shares of Energy Transfer by 10.9% during the third quarter. Harmony Asset Management LLC now owns 19,697 shares of the pipeline company's stock valued at $316,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Energy Transfer by 15.8% during the third quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company's stock valued at $2,314,000 after buying an additional 19,669 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.09.
View Our Latest Report on ET
Energy Transfer Stock Performance
Shares of ET stock traded down $1.61 on Friday, reaching $16.12. The stock had a trading volume of 50,869,573 shares, compared to its average volume of 14,843,097. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The firm has a market capitalization of $55.30 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.64 and a beta of 1.32. The firm's 50-day moving average is $19.18 and its two-hundred day moving average is $18.44. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.
Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 8.07%. Energy Transfer's dividend payout ratio is 101.56%.
Energy Transfer Company Profile
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Free Report)
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.
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