353,700 Shares in Energy Transfer LP (NYSE:ET) Acquired by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 353,700 shares of the pipeline company's stock, valued at approximately $6,929,000. Energy Transfer comprises 3.3% of Corigliano Investment Advisers LLC's holdings, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. FMR LLC raised its position in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock valued at $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock valued at $308,319,000 after purchasing an additional 388,073 shares during the period. Natixis grew its holdings in Energy Transfer by 7.1% during the fourth quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock valued at $286,389,000 after purchasing an additional 962,800 shares during the period. Finally, BROOKFIELD Corp ON increased its position in Energy Transfer by 4.6% in the fourth quarter. BROOKFIELD Corp ON now owns 13,750,386 shares of the pipeline company's stock worth $269,370,000 after buying an additional 610,462 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 1.8 %

Shares of NYSE ET opened at $15.90 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The stock's fifty day simple moving average is $17.57 and its two-hundred day simple moving average is $18.49. The stock has a market capitalization of $54.56 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a dividend of $0.3275 per share. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 8.24%. Energy Transfer's dividend payout ratio is presently 102.34%.

Analysts Set New Price Targets

Several analysts recently issued reports on ET shares. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Company 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.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.