Jennison Associates LLC Has $64.23 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Jennison Associates LLC lifted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 35.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,654,670 shares of the pipeline company's stock after purchasing an additional 1,208,725 shares during the quarter. Jennison Associates LLC owned 0.15% of Energy Transfer worth $64,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its stake in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company's stock worth $1,033,541,000 after acquiring an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company's stock worth $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. UBS Group AG raised its stake in shares of Energy Transfer by 3.9% during the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company's stock worth $354,599,000 after purchasing an additional 953,251 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in shares of Energy Transfer by 7.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company's stock worth $210,071,000 after purchasing an additional 1,060,322 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Energy Transfer by 31.1% during the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company's stock worth $173,666,000 after purchasing an additional 2,933,353 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ET shares. Citigroup raised their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Finally, Mizuho reaffirmed a "buy" rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.00.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.04 during trading on Tuesday, reaching $15.87. The company had a trading volume of 10,878,634 shares, compared to its average volume of 12,472,339. The firm's 50 day simple moving average is $15.23 and its two-hundred day simple moving average is $14.27. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04. The company has a market capitalization of $53.47 billion, a PE ratio of 14.56 and a beta of 1.64.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm's revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 7.94%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.31. Energy Transfer's dividend payout ratio (DPR) is 115.60%.

About Energy Transfer

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.