Energy Transfer LP (NYSE:ET) Stock Position Boosted by BROOKFIELD Corp ON

BROOKFIELD Corp ON raised its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,750,386 shares of the pipeline company's stock after buying an additional 610,462 shares during the period. Energy Transfer comprises 1.6% of BROOKFIELD Corp ON's portfolio, making the stock its 10th largest holding. BROOKFIELD Corp ON owned 0.40% of Energy Transfer worth $269,370,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ET. Stonegate Investment Group LLC lifted its holdings in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after buying an additional 511 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after buying an additional 535 shares during the period. Cannell & Spears LLC boosted its holdings in Energy Transfer by 0.4% in the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after buying an additional 546 shares during the period. Finally, Daymark Wealth Partners LLC increased its stake in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after buying an additional 547 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Trading Up 6.7 %

ET traded up $1.07 during trading on Wednesday, reaching $16.88. The company had a trading volume of 30,256,922 shares, compared to its average volume of 15,501,066. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The stock has a market cap of $57.90 billion, a P/E ratio of 13.18, a PEG ratio of 0.64 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $18.48.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the company earned $0.32 EPS. The firm's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate 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 issued a $0.3275 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.76%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.34%.

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.