First Trust Advisors LP Decreases Stock Position in Energy Transfer LP (NYSE:ET)

First Trust Advisors LP cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,892 shares of the pipeline company's stock after selling 22,026 shares during the quarter. First Trust Advisors LP's holdings in Energy Transfer were worth $4,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP grew its position in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after buying an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock valued at $308,319,000 after buying an additional 388,073 shares during the period. Bank of Montreal Can raised its holdings in shares of Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Energy Transfer by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock worth $228,470,000 after acquiring an additional 1,058,603 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

ET opened at $16.62 on Friday. The company's 50-day simple moving average is $17.69 and its two-hundred day simple moving average is $18.49. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market capitalization of $57.03 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.88%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.09.

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.

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