18,845 Shares in Energy Transfer LP (NYSE:ET) Acquired by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC purchased a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,845 shares of the pipeline company's stock, valued at approximately $369,000.

Several other large investors also recently modified their holdings of the business. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after buying an additional 37,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of 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 worth $148,621,000 after buying an additional 293,088 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after buying an additional 41,438 shares in the last quarter. FFG Partners LLC grew its holdings in shares of Energy Transfer by 0.9% during the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after buying an additional 13,948 shares in the last quarter. Finally, Greenland Capital Management LP bought a new position in shares of Energy Transfer during the fourth quarter worth about $2,253,000. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Performance

Shares of ET traded up $0.07 during mid-day trading on Tuesday, reaching $17.92. The company's stock had a trading volume of 8,277,139 shares, compared to its average volume of 15,459,362. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $61.50 billion, a P/E ratio of 14.00, a PEG ratio of 0.64 and a beta of 0.77. The business has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $18.61. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period last year, the firm posted $0.32 earnings per share. The business's revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.3275 per share. 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 7.31%. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 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.