Sunbeam Capital Management LLC Purchases New Position in Energy Transfer LP (NYSE:ET)

Sunbeam Capital Management LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,863 shares of the pipeline company's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer in the 4th quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. United Community Bank purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC lifted its stake in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.6%

NYSE:ET traded down $0.12 during trading hours on Wednesday, hitting $17.84. 3,735,997 shares of the stock were exchanged, compared to its average volume of 15,413,487. The company's 50 day moving average is $17.37 and its two-hundred day moving average is $18.61. The company has a market capitalization of $61.21 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ET shares. JPMorgan Chase & Co. decreased their target price 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. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

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.