Mercuria Capital Strategies LLC Invests $12.73 Million in Energy Transfer LP (NYSE:ET)

Mercuria Capital Strategies LLC purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 650,000 shares of the pipeline company's stock, valued at approximately $12,734,000. Energy Transfer accounts for about 4.9% of Mercuria Capital Strategies LLC's portfolio, making the stock its 4th biggest position.

Several other hedge funds have also recently bought and sold shares of ET. Empowered Funds LLC grew its position in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock worth $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in 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 acquiring an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its position 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 valued at $1,186,000 after acquiring an additional 37,633 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock worth $3,885,000 after purchasing an additional 57,184 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ET shares. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective 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. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. One 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, Energy Transfer currently has an average rating of "Moderate Buy" and an average target price of $21.55.

Energy Transfer Trading Up 3.0 %

Shares of ET stock traded up $0.55 during mid-day trading on Friday, reaching $18.72. 10,755,781 shares of the stock traded hands, compared to its average volume of 17,852,178. The company has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. 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 stock's fifty day simple moving average is $19.67 and its two-hundred day simple moving average is $18.14. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted 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%. On average, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors 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 6.95%. 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. Energy Transfer's dividend payout ratio is presently 101.56%.

Energy Transfer Profile

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.