Alpine Global Management LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Alpine Global Management LLC acquired a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,000 shares of the pipeline company's stock, valued at approximately $353,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Cornerstone Advisory LLC increased its holdings in Energy Transfer by 45.4% during the fourth quarter. Cornerstone Advisory LLC now owns 32,223 shares of the pipeline company's stock worth $644,000 after buying an additional 10,062 shares during the last quarter. AlphaQ Advisors LLC increased its holdings in Energy Transfer by 1.8% during the fourth quarter. AlphaQ Advisors LLC now owns 40,494 shares of the pipeline company's stock worth $793,000 after buying an additional 718 shares during the last quarter. McIlrath & Eck LLC increased its holdings in Energy Transfer by 523.1% during the fourth quarter. McIlrath & Eck LLC now owns 4,013 shares of the pipeline company's stock worth $79,000 after buying an additional 3,369 shares during the last quarter. Finally, Novem Group purchased a new stake in Energy Transfer during the fourth quarter worth about $613,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

NYSE:ET traded up $0.14 during mid-day trading on Tuesday, hitting $17.99. 3,099,768 shares of the stock traded hands, compared to its average volume of 15,439,768. The business's 50-day moving average price is $17.39 and its 200 day moving average price is $18.61. The company has a market cap of $61.72 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping 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 business 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 business earned $0.32 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. On average, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.28%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's payout ratio is presently 99.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ET shares. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. One equities research 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 an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer 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.