Bank of Montreal Can increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 12,090.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,455,613 shares of the pipeline company's stock after buying an additional 12,353,441 shares during the quarter. Bank of Montreal Can owned about 0.36% of Energy Transfer worth $244,005,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ArchPoint Investors raised its position in shares of Energy Transfer by 1.0% during the 4th quarter. ArchPoint Investors now owns 174,238 shares of the pipeline company's stock valued at $3,413,000 after buying an additional 1,668 shares during the period. Cerity Partners LLC increased its stake in Energy Transfer by 27.2% during the fourth quarter. Cerity Partners LLC now owns 308,587 shares of the pipeline company's stock worth $5,866,000 after acquiring an additional 66,056 shares during the last quarter. FMR LLC lifted its stake in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Energy Transfer during the 4th quarter worth $838,000. Finally, Peapack Gladstone Financial Corp increased its position in shares of Energy Transfer by 6.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 16,728 shares of the pipeline company's stock worth $327,000 after purchasing an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on ET shares. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Wells Fargo & Company upped their price target on 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 boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.
Check Out Our Latest Research Report on ET
Energy Transfer Stock Up 0.3 %
Shares of ET traded up $0.04 during midday trading on Friday, hitting $15.95. The company had a trading volume of 11,159,948 shares, compared to its average volume of 15,211,734. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The firm has a market capitalization of $54.73 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company's 50-day simple moving average is $18.64 and its 200-day simple moving average is $18.42.
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%. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 8.15%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is 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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