Raymond James Financial Services Advisors Inc. grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,818,699 shares of the pipeline company's stock after buying an additional 75,463 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.08% of Energy Transfer worth $44,338,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Alps Advisors Inc. grew its stake in shares of Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company's stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the period. UBS Group AG grew its stake in Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company's stock valued at $395,270,000 after acquiring an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company's stock valued at $353,576,000 after acquiring an additional 7,097,074 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company's stock valued at $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. Finally, First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer in the fourth quarter valued at about $322,097,000. 38.22% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Stock Performance
Shares of Energy Transfer stock traded up $0.30 on Thursday, hitting $15.78. The stock had a trading volume of 9,594,871 shares, compared to its average volume of 12,233,900. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07. The business's 50 day moving average is $15.44 and its two-hundred day moving average is $14.38. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The stock has a market cap of $53.17 billion, a price-to-earnings ratio of 14.48 and a beta of 1.63.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Analysts forecast that Energy Transfer LP will post 1.56 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 8.04%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 115.60%.
Analyst Ratings Changes
A number of analysts have recently commented on ET shares. Mizuho restated a "buy" rating and issued a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Finally, UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.
Check Out Our Latest Report on ET
About Energy Transfer
(
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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