Eagle Global Advisors LLC Has $113.49 Million Position in Energy Transfer LP (NYSE:ET)

Eagle Global Advisors LLC lifted its position in Energy Transfer LP (NYSE:ET - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,793,007 shares of the pipeline company's stock after acquiring an additional 184,626 shares during the quarter. Energy Transfer makes up about 4.7% of Eagle Global Advisors LLC's holdings, making the stock its 2nd biggest holding. Eagle Global Advisors LLC owned 0.17% of Energy Transfer worth $113,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter worth about $29,000. United Community Bank purchased a new position in Energy Transfer during the 4th quarter valued at about $35,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC lifted its position in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley increased their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus upped their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Stock Performance

NYSE:ET traded down $0.15 during trading hours on Friday, hitting $17.22. 16,161,297 shares of the company traded hands, compared to its average volume of 15,516,554. 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 LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a 50-day moving average of $17.46 and a 200 day moving average of $18.51. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share 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 business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed 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 a boost 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 7.61%. Energy Transfer's payout ratio is currently 99.24%.

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.