Aster Capital Management DIFC Ltd bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,800 shares of the pipeline company's stock, valued at approximately $838,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC boosted its position in Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company's stock worth $837,000 after buying an additional 1,486 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Energy Transfer by 15.8% during the third quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company's stock valued at $2,314,000 after acquiring an additional 19,669 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Energy Transfer by 830.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 301,291 shares of the pipeline company's stock worth $4,695,000 after purchasing an additional 268,912 shares during the period. EP Wealth Advisors LLC grew its stake in shares of Energy Transfer by 50.7% in the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company's stock worth $987,000 after purchasing an additional 20,699 shares during the last quarter. Finally, Brookfield Corp ON raised its position in Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock worth $210,896,000 after purchasing an additional 352,625 shares during the last quarter. Institutional investors own 38.22% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ET. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.
View Our Latest Research Report on Energy Transfer
Energy Transfer Stock Down 4.3 %
ET traded down $0.72 during midday trading on Thursday, hitting $15.95. The company had a trading volume of 11,722,692 shares, compared to its average volume of 15,186,197. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.32. The stock's 50 day moving average price is $18.74 and its 200 day moving average price is $18.42. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 8.15%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is presently 101.56%.
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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