Ninepoint Partners LP grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,832 shares of the pipeline company's stock after purchasing an additional 18,595 shares during the quarter. Ninepoint Partners LP's holdings in Energy Transfer were worth $1,544,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Stonegate Investment Group LLC lifted its stake in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after acquiring an additional 482 shares during the period. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% during the fourth 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 during the period. Wealthspire Advisors LLC lifted its stake in shares of Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after acquiring an additional 535 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock valued at $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% during the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company's stock valued at $1,318,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ET. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup increased their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective 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 assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average price target of $21.55.
Get Our Latest Analysis on Energy Transfer
Energy Transfer Stock Up 1.4 %
NYSE ET traded up $0.26 during trading hours on Wednesday, hitting $18.94. 6,818,627 shares of the company traded hands, compared to its average volume of 14,492,740. The business's 50-day moving average is $19.62 and its 200-day moving average is $18.23. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a market capitalization of $64.97 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.64 and a beta of 1.72.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.87%. This is a boost 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 (DPR) is presently 101.56%.
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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