Townsquare Capital LLC Buys 26,376 Shares of Energy Transfer LP (NYSE:ET)

Townsquare Capital LLC raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 949,698 shares of the pipeline company's stock after purchasing an additional 26,376 shares during the quarter. Townsquare Capital LLC's holdings in Energy Transfer were worth $18,605,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. United Community Bank acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Tortoise Investment Management LLC increased its position in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

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Energy Transfer Stock Up 1.7 %

Shares of ET traded up $0.28 during trading hours on Tuesday, hitting $17.10. 10,169,410 shares of the company were exchanged, compared to its average volume of 15,247,565. The firm's 50 day moving average is $18.47 and its 200-day moving average is $18.44. Energy Transfer LP has a 52 week low of $14.60 and a 52 week 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 company has a market cap of $58.69 billion, a PE ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.32.

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

Energy Transfer Increases Dividend

The firm also recently declared 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. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.60%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 101.56%.

About Energy Transfer

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.