Novem Group Makes New $613,000 Investment in Energy Transfer LP (NYSE:ET)

Novem Group acquired a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,282 shares of the pipeline company's stock, valued at approximately $613,000.

Several other hedge funds also recently modified their holdings of ET. Park Avenue Securities LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $237,000. Koshinski Asset Management Inc. increased its holdings in shares of Energy Transfer by 6.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 14,603 shares of the pipeline company's stock valued at $286,000 after purchasing an additional 834 shares in the last quarter. Chesley Taft & Associates LLC increased its holdings in shares of Energy Transfer by 28.5% in the fourth quarter. Chesley Taft & Associates LLC now owns 67,586 shares of the pipeline company's stock valued at $1,324,000 after purchasing an additional 15,000 shares in the last quarter. Enclave Advisors LLC increased its holdings in shares of Energy Transfer by 1.7% in the fourth quarter. Enclave Advisors LLC now owns 293,324 shares of the pipeline company's stock valued at $5,746,000 after purchasing an additional 4,903 shares in the last quarter. Finally, XML Financial LLC increased its holdings in shares of Energy Transfer by 22.3% in the fourth quarter. XML Financial LLC now owns 46,033 shares of the pipeline company's stock valued at $902,000 after purchasing an additional 8,386 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ET shares. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. 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. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Mizuho raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer Trading Down 0.2%

Shares of ET stock traded down $0.04 on Friday, hitting $17.84. The stock had a trading volume of 7,722,994 shares, compared to its average volume of 15,474,851. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a market cap of $61.22 billion, a P/E ratio of 13.94, a PEG ratio of 0.64 and a beta of 0.77. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a fifty day moving average price of $17.41 and a two-hundred day moving average price of $18.59.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for 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 firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.34%. The ex-dividend date was Friday, May 9th. Energy Transfer's payout ratio is currently 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.