NFC Investments LLC Acquires 252,000 Shares of Energy Transfer LP (NYSE:ET)

NFC Investments LLC increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 442.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,000 shares of the pipeline company's stock after acquiring an additional 252,000 shares during the quarter. Energy Transfer comprises approximately 1.7% of NFC Investments LLC's holdings, making the stock its 18th largest holding. NFC Investments LLC's holdings in Energy Transfer were worth $6,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $29,000. United Community Bank acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $37,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Down 0.6 %

Energy Transfer stock traded down $0.11 during trading hours on Thursday, reaching $18.83. 7,979,311 shares of the company's stock traded hands, compared to its average volume of 14,479,528. 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 LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The firm has a market capitalization of $64.62 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.64 and a beta of 1.72. The firm's 50 day moving average is $19.61 and its 200-day moving average is $18.23.

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Energy Transfer (NYSE:ET - Get Free Report) last released its 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 net margin of 5.74% and a return on equity of 11.56%. On average, 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. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost 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 6.90%. Energy Transfer's dividend payout ratio is 101.56%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ET shares. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average price target of $21.55.

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.