Advisors Asset Management Inc. Has $6.46 Million Holdings in Energy Transfer LP (NYSE:ET)

Advisors Asset Management Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,859 shares of the pipeline company's stock after purchasing an additional 71,871 shares during the period. Advisors Asset Management Inc.'s holdings in Energy Transfer were worth $6,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ET. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in Energy Transfer during the fourth quarter valued at about $29,000. United Community Bank bought a new position in Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners bought a new position in Energy Transfer during the fourth quarter valued at about $37,000. Finally, Tortoise Investment Management LLC raised its holdings in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

ET traded down $0.21 on Friday, hitting $18.65. 15,128,886 shares of the stock traded hands, compared to its average volume of 14,491,575. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $63.98 billion, a PE ratio of 14.57, a P/E/G ratio of 0.64 and a beta of 1.72. The business has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $18.26.

Remove Ads

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 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, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.97%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's payout ratio is presently 101.56%.

Analysts Set New Price Targets

Several research firms have weighed in on ET. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised 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. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup lifted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $21.55.

Energy Transfer Profile

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.