Allspring Global Investments Holdings LLC Invests $615,000 in Energy Transfer LP (NYSE:ET)

Allspring Global Investments Holdings LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 31,400 shares of the pipeline company's stock, valued at approximately $615,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC lifted its holdings in Energy Transfer by 29.4% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 114,345 shares of the pipeline company's stock worth $2,240,000 after buying an additional 25,994 shares in the last quarter. Certuity LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $485,000. SRH Advisors LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $46,000. Stonebridge Financial Group LLC purchased a new position in Energy Transfer in the fourth quarter valued at $78,000. Finally, Clarus Group Inc. grew its stake in Energy Transfer by 0.6% during the 4th quarter. Clarus Group Inc. now owns 132,161 shares of the pipeline company's stock worth $2,589,000 after purchasing an additional 831 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

ET traded up $0.38 during trading on Friday, hitting $19.32. The stock had a trading volume of 11,647,688 shares, compared to its average volume of 16,998,135. The firm has a market capitalization of $66.27 billion, a P/E ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company's 50-day moving average price is $19.91 and its 200 day moving average price is $17.99.

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Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.73%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio is 101.56%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ET. Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Citigroup raised their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.55.

Energy Transfer Company 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.