Exchange Traded Concepts LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 11.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,551,079 shares of the pipeline company's stock after purchasing an additional 162,853 shares during the period. Exchange Traded Concepts LLC's holdings in Energy Transfer were worth $28,835,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of ET. Bank of Montreal Can grew its holdings 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 acquiring an additional 12,353,441 shares during the period. FMR LLC lifted its stake in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Energy Transfer during the fourth quarter worth $79,113,000. Hsbc Holdings PLC purchased a new stake in Energy Transfer during the fourth quarter worth $50,166,000. Finally, Westwood Holdings Group Inc. increased its holdings 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 buying an additional 2,512,060 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.
Energy Transfer Price Performance
NYSE ET traded down $0.16 during mid-day trading on Friday, hitting $18.30. The stock had a trading volume of 14,306,574 shares, compared to its average volume of 15,610,522. The firm's 50 day moving average is $17.33 and its 200 day moving average is $18.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.64 and a beta of 0.78. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 7.16%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is 99.24%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on ET shares. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Mizuho increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company dropped their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.64.
Get Our Latest Stock Analysis on Energy Transfer
Energy Transfer Company 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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