Novem Group Purchases New Shares in Energy Transfer LP (NYSE:ET)

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

Other institutional investors also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after purchasing an additional 37,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock valued at $148,621,000 after buying an additional 293,088 shares during the period. Wedbush Securities Inc. increased its holdings in Energy Transfer by 44.2% in the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after buying an additional 41,438 shares in the last quarter. FFG Partners LLC raised its position in shares of Energy Transfer by 0.9% in the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after acquiring an additional 13,948 shares during the period. Finally, Greenland Capital Management LP purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $2,253,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ET. JPMorgan Chase & Co. cut their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Mizuho lifted 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. Wells Fargo & Company lowered their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer Stock Performance

ET stock traded down $0.04 during mid-day trading on Monday, reaching $17.84. The company had a trading volume of 7,722,994 shares, compared to its average volume of 15,488,193. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock's 50-day simple moving average is $17.41 and its two-hundred day simple moving average is $18.61. The stock has a market capitalization of $61.23 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.34%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

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.