Greenland Capital Management LP purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 115,000 shares of the pipeline company's stock, valued at approximately $2,253,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the period. FMR LLC boosted its position in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock valued at $469,920,000 after acquiring an additional 1,723,683 shares during the period. Wells Fargo & Company MN increased its holdings in Energy Transfer by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock worth $228,470,000 after acquiring an additional 1,058,603 shares during the period. Finally, Hartree Partners LP bought a new position in Energy Transfer in the 4th quarter valued at $16,083,000. Institutional investors own 38.22% of the company's stock.
Energy Transfer Trading Up 1.4 %
Shares of NYSE:ET traded up $0.22 during trading on Friday, reaching $16.13. 18,371,905 shares of the company traded hands, compared to its average volume of 15,262,449. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The business's fifty day moving average is $18.55 and its 200-day moving average is $18.42. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 1.32.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly 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 return on equity of 11.56% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently announced 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 is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.06%. Energy Transfer's dividend payout ratio is 101.56%.
Analysts Set New Price Targets
ET has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Wells Fargo & Company increased 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. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.
Read Our Latest Stock Report 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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