Ameriprise Financial Inc. Purchases 40,329 Shares of Energy Transfer LP (NYSE:ET)

Ameriprise Financial Inc. raised its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 389,075 shares of the pipeline company's stock after purchasing an additional 40,329 shares during the period. Ameriprise Financial Inc.'s holdings in Energy Transfer were worth $7,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. FMR LLC increased its stake in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock valued at $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. Natixis lifted its position in shares of Energy Transfer by 7.1% in the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock worth $286,389,000 after purchasing an additional 962,800 shares during the period. Bank of Montreal Can boosted its stake in shares of 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 valued at $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Energy Transfer by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock valued at $228,470,000 after buying an additional 1,058,603 shares during the period. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

ET has been the subject of a number of analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report 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 note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday. Mizuho boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

Energy Transfer Stock Down 2.1%

NYSE:ET opened at $17.77 on Thursday. 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 company has a market cap of $60.96 billion, a PE ratio of 13.88, a P/E/G ratio of 0.64 and a beta of 0.77. The company's 50 day moving average is $17.45 and its two-hundred day moving average is $18.58.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 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.

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