Beacon Pointe Advisors LLC Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Beacon Pointe Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 801,598 shares of the pipeline company's stock after acquiring an additional 255,627 shares during the period. Beacon Pointe Advisors LLC's holdings in Energy Transfer were worth $11,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mutual Advisors LLC lifted its position in Energy Transfer by 112.9% in the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company's stock valued at $2,028,000 after purchasing an additional 77,938 shares during the period. Savant Capital LLC boosted its stake in shares of Energy Transfer by 19.7% in the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company's stock valued at $363,000 after buying an additional 4,340 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company's stock worth $10,335,000 after acquiring an additional 513,989 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Energy Transfer by 3.3% in the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company's stock valued at $390,000 after purchasing an additional 903 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Energy Transfer during the 3rd quarter valued at approximately $3,936,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.4 %

ET traded down $0.06 during trading hours on Thursday, reaching $15.83. 9,331,379 shares of the stock traded hands, compared to its average volume of 12,297,179. Energy Transfer LP has a fifty-two week low of $12.31 and a fifty-two week high of $16.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 14.52 and a beta of 1.63. The firm's fifty day simple moving average is $15.65 and its two-hundred day simple moving average is $14.53.

Energy Transfer (NYSE:ET - Get Free Report) last announced 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). The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.54 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ET shares. Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Stifel Nicolaus raised their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, May 9th. Mizuho reaffirmed a "buy" rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.43.

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.

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