Citigroup Inc. raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 45.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,581,762 shares of the pipeline company's stock after buying an additional 3,013,973 shares during the period. Citigroup Inc. owned about 0.28% of Energy Transfer worth $153,787,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Fortis Capital Management LLC boosted its stake in shares of Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock worth $513,000 after buying an additional 634 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after buying an additional 650 shares during the period. Veracity Capital LLC increased its holdings in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company's stock worth $545,000 after buying an additional 659 shares during the last quarter. Haverford Trust Co raised its position in Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock worth $1,640,000 after acquiring an additional 675 shares during the period. Finally, Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company's stock valued at $720,000 after acquiring an additional 699 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Price Performance
Shares of ET stock traded up $0.10 during trading hours on Friday, reaching $19.07. The stock had a trading volume of 22,173,341 shares, compared to its average volume of 19,349,276. The stock's fifty day simple moving average is $16.66 and its 200 day simple moving average is $16.18. The firm has a market capitalization of $65.29 billion, a PE ratio of 14.01, a PEG ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $19.20. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. On average, equities research analysts predict that Energy Transfer LP will post 1.34 EPS for the current year.
Energy Transfer Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.76%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is currently 94.85%.
Wall Street Analysts Forecast Growth
ET has been the topic of a number of research reports. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $20.00.
Check Out Our Latest Analysis on ET
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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