Energy Transfer LP (NYSE:ET) Holdings Lifted by Ieq Capital LLC

Ieq Capital LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 195.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,616 shares of the pipeline company's stock after buying an additional 127,350 shares during the period. Ieq Capital LLC's holdings in Energy Transfer were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Energy Transfer by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 77,753 shares of the pipeline company's stock worth $1,091,000 after purchasing an additional 5,174 shares in the last quarter. TIAA Trust National Association acquired a new stake in Energy Transfer in the third quarter worth about $250,000. Perigon Wealth Management LLC grew its position in Energy Transfer by 10.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 30,433 shares of the pipeline company's stock valued at $427,000 after buying an additional 2,800 shares in the last quarter. Congress Wealth Management LLC DE increased its stake in Energy Transfer by 16.2% during the 3rd quarter. Congress Wealth Management LLC DE now owns 94,106 shares of the pipeline company's stock valued at $1,320,000 after buying an additional 13,106 shares during the period. Finally, Bogart Wealth LLC raised its position in shares of Energy Transfer by 11.1% during the 3rd quarter. Bogart Wealth LLC now owns 22,228 shares of the pipeline company's stock worth $312,000 after buying an additional 2,214 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ET has been the subject of several recent analyst reports. Mizuho reiterated a "buy" rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. UBS Group decreased 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. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus upped their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and an average price target of $18.14.

Energy Transfer Price Performance

Energy Transfer stock traded down $0.11 during mid-day trading on Monday, hitting $15.83. The company's stock had a trading volume of 15,716,264 shares, compared to its average volume of 12,389,303. Energy Transfer LP has a twelve month low of $12.31 and a twelve month high of $16.40. The stock's fifty day moving average price is $15.60 and its two-hundred day moving average price is $14.48. The stock has a market capitalization of $53.35 billion, a P/E ratio of 14.53 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business's revenue was up 13.9% compared to the same quarter last year. Research analysts forecast that Energy Transfer LP will post 1.54 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 8.01%. Energy Transfer's dividend payout ratio is currently 116.51%.

Energy Transfer 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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