FMR LLC raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,634,018 shares of the pipeline company's stock after acquiring an additional 5,254,721 shares during the quarter. FMR LLC owned approximately 1.13% of Energy Transfer worth $756,840,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Watts Gwilliam & Co. LLC bought a new position in Energy Transfer during the fourth quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock worth $148,621,000 after buying an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after buying an additional 37,633 shares during the period. Wedbush Securities Inc. grew its stake in Energy Transfer by 44.2% in the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after buying an additional 41,438 shares during the last quarter. Finally, Paragon Capital Management Ltd raised its holdings in Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company's stock valued at $1,346,000 after acquiring an additional 55,890 shares during the period. 38.22% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on ET shares. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Citigroup restated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Barclays boosted 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, January 13th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.09.
Read Our Latest Analysis on Energy Transfer
Energy Transfer Trading Down 0.3 %
Energy Transfer stock traded down $0.04 during trading hours on Friday, reaching $15.87. 10,061,386 shares of the company's stock were exchanged, compared to its average volume of 15,208,778. The firm's 50 day simple moving average is $18.64 and its 200 day simple moving average is $18.42. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $54.45 billion, a PE ratio of 12.39, a PEG ratio of 0.64 and a beta of 1.32.
Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.19%. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio (DPR) is presently 101.56%.
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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