Invesco Ltd. trimmed its stake in Energy Transfer LP (NYSE:ET - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,113,966 shares of the pipeline company's stock after selling 2,179,069 shares during the period. Invesco Ltd. owned 1.64% of Energy Transfer worth $1,099,273,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Kovitz Investment Group Partners LLC raised its position in Energy Transfer by 830.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 301,291 shares of the pipeline company's stock worth $4,695,000 after buying an additional 268,912 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Energy Transfer by 50.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company's stock worth $987,000 after buying an additional 20,699 shares during the last quarter. National Bank of Canada FI increased its position in shares of Energy Transfer by 56.8% during the third quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company's stock worth $728,000 after purchasing an additional 16,439 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Energy Transfer in the third quarter worth about $181,000. Finally, MML Investors Services LLC grew its position in shares of Energy Transfer by 2.4% in the third quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company's stock valued at $1,765,000 after purchasing an additional 2,620 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on ET. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.09.
Read Our Latest Stock Report on ET
Energy Transfer Price Performance
ET stock traded down $0.63 during trading hours on Thursday, hitting $16.04. 13,151,656 shares of the stock traded hands, compared to its average volume of 15,190,431. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market cap of $55.02 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a 50-day simple moving average of $18.74 and a 200 day simple moving average of $18.42.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.11%. Energy Transfer's payout ratio is currently 101.56%.
Energy Transfer 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.
Recommended Stories
Before you consider Energy Transfer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Transfer wasn't on the list.
While Energy Transfer currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
