Maryland State Retirement & Pension System decreased its position in Energy Transfer LP (NYSE:ET - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,541,855 shares of the pipeline company's stock after selling 58,646 shares during the period. Energy Transfer comprises approximately 1.1% of Maryland State Retirement & Pension System's portfolio, making the stock its 15th biggest holding. Maryland State Retirement & Pension System owned 0.07% of Energy Transfer worth $49,795,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $29,000. Assetmark Inc. lifted its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. United Community Bank purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $37,000. Finally, Tortoise Investment Management LLC lifted its position in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after acquiring 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 Down 1.1 %
Shares of ET stock traded down $0.21 during trading hours on Friday, reaching $18.65. The company had a trading volume of 15,128,886 shares, compared to its average volume of 14,491,575. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45. The company has a market capitalization of $63.98 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The stock's fifty day simple moving average is $19.57 and its 200 day simple moving average is $18.26.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.97%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is 101.56%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on ET. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of "Moderate Buy" and an average target price of $21.55.
View Our Latest Analysis on ET
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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