Fairholme Capital Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 852,900 shares of the pipeline company's stock, valued at approximately $16,708,000. Energy Transfer makes up about 1.4% of Fairholme Capital Management LLC's investment portfolio, making the stock its 5th largest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diligent Investors LLC raised its holdings in shares of Energy Transfer by 30.9% during the 4th quarter. Diligent Investors LLC now owns 45,576 shares of the pipeline company's stock worth $893,000 after acquiring an additional 10,762 shares during the period. Eagle Global Advisors LLC raised its holdings in shares of Energy Transfer by 3.3% during the 4th quarter. Eagle Global Advisors LLC now owns 5,793,007 shares of the pipeline company's stock worth $113,485,000 after acquiring an additional 184,626 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Energy Transfer by 18.8% during the 4th quarter. CoreCap Advisors LLC now owns 197,822 shares of the pipeline company's stock worth $3,875,000 after acquiring an additional 31,286 shares during the period. Corigliano Investment Advisers LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $6,929,000. Finally, Cornerstone Select Advisors LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 38.22% of the company's stock.
Wall Street Analyst Weigh In
ET has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One investment 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 a consensus rating of "Moderate Buy" and a consensus price target of $22.09.
Check Out Our Latest Report on Energy Transfer
Energy Transfer Stock Up 3.0%
NYSE ET traded up $0.52 on Tuesday, reaching $17.96. The company had a trading volume of 8,904,591 shares, compared to its average volume of 15,510,564. The firm has a market capitalization of $61.62 billion, a PE ratio of 14.03, a P/E/G 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 firm has a 50-day moving average of $17.45 and a 200-day moving average of $18.53. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.
Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. 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 prior year, the business posted $0.32 EPS. The business's revenue was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be paid a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.29%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.
Energy Transfer Profile
(
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.
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