Recurrent Investment Advisors LLC grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,720,835 shares of the pipeline company's stock after buying an additional 139,588 shares during the quarter. Energy Transfer accounts for approximately 8.5% of Recurrent Investment Advisors LLC's holdings, making the stock its biggest holding. Recurrent Investment Advisors LLC owned 0.14% of Energy Transfer worth $92,481,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter valued at approximately $29,000. United Community Bank acquired a new position in shares of Energy Transfer in the fourth quarter worth $35,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC lifted its holdings in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $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.
Energy Transfer Stock Performance
ET opened at $18.03 on Thursday. The stock has a 50-day moving average of $17.46 and a 200-day moving average of $18.52. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a market cap of $61.86 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.27%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's dividend payout ratio is 99.24%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ET. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a 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 stock a "buy" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.09.
Read Our Latest Analysis on ET
About Energy Transfer
(
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.
Recommended Stories
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.
Before you consider Energy Transfer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Transfer wasn't on the list.
While Energy Transfer currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
