Paragon Capital Management Ltd raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 435.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,724 shares of the pipeline company's stock after purchasing an additional 55,890 shares during the period. Paragon Capital Management Ltd's holdings in Energy Transfer were worth $1,346,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock valued at $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $1,297,000. Kingsview Wealth Management LLC increased its stake in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the period. Finally, Clear Street Derivatives LLC acquired a new stake in shares of Energy Transfer in the third quarter worth approximately $2,565,000. 38.22% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Stock Up 1.0 %
Shares of ET stock traded up $0.20 on Thursday, hitting $20.24. The stock had a trading volume of 18,205,997 shares, compared to its average volume of 15,141,129. The stock's 50 day moving average is $18.90 and its 200-day moving average is $17.14. The firm has a market capitalization of $69.28 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.32. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current year.
Energy Transfer Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.
Analyst Ratings Changes
ET has been the topic of several research reports. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $20.82.
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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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