Black Swift Group LLC Has $3.24 Million Stock Position in Energy Transfer LP (NYSE:ET)

Black Swift Group LLC raised its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 444.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,265 shares of the pipeline company's stock after acquiring an additional 142,265 shares during the period. Energy Transfer makes up 0.7% of Black Swift Group LLC's portfolio, making the stock its 24th biggest holding. Black Swift Group LLC's holdings in Energy Transfer were worth $3,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Alps Advisors Inc. boosted its holdings in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. FMR LLC lifted its position in shares of Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in shares of Energy Transfer by 0.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after buying an additional 182,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Energy Transfer by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock valued at $387,416,000 after buying an additional 1,093,381 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after acquiring an additional 2,512,060 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ET. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Wells Fargo & Company decreased their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.

Energy Transfer Stock Up 0.0%

Shares of Energy Transfer stock traded up $0.01 on Friday, hitting $17.73. The company had a trading volume of 10,396,174 shares, compared to its average volume of 15,630,679. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $18.30. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a market capitalization of $60.83 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.90 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm 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 posted $0.32 EPS. The business's revenue was down 2.8% on a year-over-year basis. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 8th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.45%. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.28% of the company's stock.

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.