Focus Partners Wealth cut its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 246,294 shares of the pipeline company's stock after selling 60,028 shares during the period. Focus Partners Wealth's holdings in Energy Transfer were worth $5,183,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC lifted its stake in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Energy Transfer during the fourth quarter worth $50,166,000. Kayne Anderson Capital Advisors LP lifted its stake 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 worth $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Energy Transfer during the fourth quarter worth $21,313,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ET has been the topic of a number of research reports. Morgan Stanley upped their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.
Check Out Our Latest Stock Analysis on ET
Energy Transfer Stock Performance
Shares of ET stock opened at $18.03 on Thursday. The stock's 50-day moving average is $17.46 and its two-hundred day moving average is $18.52. The firm has a market cap of $61.86 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. 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 (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping 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 the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.3275 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.27%. Energy Transfer's dividend payout ratio is 99.24%.
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.
See Also
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