FMR LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 44.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,379,297 shares of the pipeline company's stock after buying an additional 10,195,768 shares during the quarter. FMR LLC owned approximately 0.97% of Energy Transfer worth $535,738,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ET. Tidal Investments LLC increased its position in Energy Transfer by 12.9% in the first quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company's stock worth $1,342,000 after buying an additional 9,849 shares during the last quarter. LRI Investments LLC bought a new stake in Energy Transfer in the 1st quarter valued at about $29,000. Burney Co. lifted its holdings in Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company's stock valued at $992,000 after purchasing an additional 46,800 shares during the last quarter. Cetera Investment Advisers boosted its position in Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company's stock worth $20,297,000 after purchasing an additional 1,072,144 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Energy Transfer by 75.6% in the first quarter. Cetera Advisors LLC now owns 493,991 shares of the pipeline company's stock worth $7,770,000 after purchasing an additional 212,719 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.
Analysts Set New Price Targets
ET has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target for the company. Finally, UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.00.
View Our Latest Report on ET
Energy Transfer Price Performance
Shares of ET stock traded up $0.44 on Friday, reaching $19.86. The company's stock had a trading volume of 16,083,810 shares, compared to its average volume of 13,722,960. The company has a market capitalization of $68.00 billion, a P/E ratio of 14.60, a PEG ratio of 0.62 and a beta of 1.66. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $20.02. The stock's 50 day simple moving average is $16.99 and its 200-day simple moving average is $16.30. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. The company's revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.
Energy Transfer Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.50%. Energy Transfer's payout ratio is presently 94.85%.
Energy Transfer Company Profile
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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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