Sunbeam Capital Management LLC bought 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 SEC. The institutional investor bought 18,845 shares of the pipeline company's stock, valued at approximately $369,000.
Several other institutional investors and hedge funds also recently made changes to their positions in ET. Park Avenue Securities LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $237,000. Janney Montgomery Scott LLC boosted its stake in shares of Energy Transfer by 12.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 610,927 shares of the pipeline company's stock valued at $11,968,000 after buying an additional 68,760 shares during the last quarter. Secure Asset Management LLC boosted its stake in shares of Energy Transfer by 83.8% during the 4th quarter. Secure Asset Management LLC now owns 25,970 shares of the pipeline company's stock valued at $509,000 after buying an additional 11,842 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after buying an additional 11,844 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Energy Transfer by 2.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 44,322 shares of the pipeline company's stock valued at $868,000 after buying an additional 1,142 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
Energy Transfer Stock Performance
ET stock traded down $0.14 during mid-day trading on Thursday, reaching $17.63. The company had a trading volume of 5,578,550 shares, compared to its average volume of 16,652,092. 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 has a market capitalization of $60.49 billion, a P/E ratio of 13.77, 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. The stock's 50-day simple moving average is $17.36 and its two-hundred day simple moving average is $18.60.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current 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 paid 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 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date was Friday, May 9th. Energy Transfer's payout ratio is currently 99.24%.
Wall Street Analyst Weigh In
A number of research firms have commented on ET. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Mizuho lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.64.
View 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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