Bedel Financial Consulting Inc. purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,433 shares of the pipeline company's stock, valued at approximately $383,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after buying an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after buying an additional 388,073 shares during the last quarter. Brookfield Corp ON grew its holdings in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock worth $210,896,000 after acquiring an additional 352,625 shares during the period. BNP Paribas Financial Markets raised its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock valued at $153,787,000 after acquiring an additional 3,013,973 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.
Energy Transfer Trading Down 1.3 %
NYSE:ET traded down $0.25 on Thursday, reaching $17.96. 9,606,133 shares of the company's stock were exchanged, compared to its average volume of 17,104,217. The business has a fifty day moving average of $19.87 and a 200-day moving average of $18.08. 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 $14.87 and a 52-week high of $21.45. The firm has a market capitalization of $61.61 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.
Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.24%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 101.56%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Citigroup increased their target price on Energy Transfer from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.55.
Check Out Our Latest Stock Report on Energy Transfer
Energy Transfer Profile
(
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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