Sanders Morris Harris LLC Has $1.69 Million Stake in Energy Transfer LP (NYSE:ET)

Sanders Morris Harris LLC grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,198 shares of the pipeline company's stock after purchasing an additional 16,000 shares during the period. Sanders Morris Harris LLC's holdings in Energy Transfer were worth $1,694,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. FMR LLC grew its holdings in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Energy Transfer by 1.1% in the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company's stock worth $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC boosted its stake in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock valued at $308,319,000 after purchasing an additional 388,073 shares during the last quarter. Brookfield Corp ON lifted its holdings in Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock valued at $210,896,000 after buying an additional 352,625 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Energy Transfer by 36.7% during the 3rd 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 during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Up 1.0 %

ET stock traded up $0.20 during trading on Thursday, hitting $20.24. The company had a trading volume of 18,205,997 shares, compared to its average volume of 15,141,129. 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 LP has a one year low of $13.60 and a one year high of $20.32. The business has a 50-day moving average of $18.90 and a 200-day moving average of $17.14. The stock has a market cap of $69.28 billion, a PE ratio of 14.88, a PEG ratio of 0.57 and a beta of 1.70.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. During the same period in the prior year, the business earned $0.31 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ET shares. UBS Group boosted 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. 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 report on Wednesday, December 18th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price on the stock. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Finally, Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.82.

Energy Transfer Company 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.