Hartree Partners LP acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 821,000 shares of the pipeline company's stock, valued at approximately $16,083,000. Energy Transfer accounts for approximately 6.0% of Hartree Partners LP's portfolio, making the stock its 4th biggest holding.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC boosted its position in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after acquiring an additional 535 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after acquiring an additional 547 shares during the period. Finally, Platform Technology Partners lifted its stake in shares of Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock valued at $1,318,000 after purchasing an additional 553 shares during the period. 38.22% of the stock is owned by institutional investors.
Energy Transfer Price Performance
Shares of Energy Transfer stock traded up $0.17 on Wednesday, hitting $18.90. 4,415,291 shares of the company traded hands, compared to its average volume of 14,537,396. The business has a 50-day simple moving average of $19.38 and a 200 day simple moving average of $18.43. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The stock has a market capitalization of $64.85 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. 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 (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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 expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.88%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's payout ratio is presently 101.56%.
Analyst Ratings Changes
A number of brokerages have recently commented on ET. Royal Bank of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus lifted 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. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.09.
View Our Latest Report on ET
Energy Transfer Company Profile
(
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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