Jennison Associates LLC increased its position in Energy Transfer LP (NYSE:ET - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,584,039 shares of the pipeline company's stock after purchasing an additional 69,327 shares during the quarter. Jennison Associates LLC's holdings in Energy Transfer were worth $30,572,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ET. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $1,930,000. Euro Pacific Asset Management LLC boosted its position in shares of Energy Transfer by 8.7% during the 1st quarter. Euro Pacific Asset Management LLC now owns 14,360 shares of the pipeline company's stock valued at $260,000 after acquiring an additional 1,150 shares in the last quarter. Modera Wealth Management LLC increased its stake in Energy Transfer by 28.6% in the first quarter. Modera Wealth Management LLC now owns 17,539 shares of the pipeline company's stock valued at $339,000 after acquiring an additional 3,900 shares during the period. Assetmark Inc. increased its stake in Energy Transfer by 159.3% in the first quarter. Assetmark Inc. now owns 13,105 shares of the pipeline company's stock valued at $253,000 after acquiring an additional 8,051 shares during the period. Finally, Bessemer Group Inc. raised its position in Energy Transfer by 5,272.3% in the first quarter. Bessemer Group Inc. now owns 14,935 shares of the pipeline company's stock worth $288,000 after purchasing an additional 14,657 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.
Energy Transfer Price Performance
Shares of Energy Transfer stock opened at $20.28 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $69.77 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The firm's 50-day moving average price is $19.53 and its two-hundred day moving average price is $18.88.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business's revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 6.7%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's payout ratio is 112.50%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ET shares. Weiss Ratings restated a "buy (b)" rating on shares of Energy Transfer in a research note on Friday, June 5th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, May 12th. Morgan Stanley increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 27th. Barclays restated an "overweight" rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Finally, Jefferies Financial Group upgraded Energy Transfer from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $23.55.
Read Our Latest Analysis on Energy Transfer
About Energy Transfer
(
Free Report)
Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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