Brown Brothers Harriman & Co. Acquires 14,982 Shares of Energy Transfer LP (NYSE:ET)

Brown Brothers Harriman & Co. boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,383 shares of the pipeline company's stock after buying an additional 14,982 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Energy Transfer were worth $1,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $29,000. United Community Bank bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC raised its holdings in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.

Remove Ads

Energy Transfer Price Performance

NYSE:ET traded up $0.19 during mid-day trading on Wednesday, reaching $18.92. The stock had a trading volume of 7,467,586 shares, compared to its average volume of 16,215,314. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The stock has a market capitalization of $64.92 billion, a PE ratio of 14.78, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a 50-day simple moving average of $19.38 and a two-hundred day simple moving average of $18.43.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.87%. 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 payout ratio is 101.56%.

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.