Transce3nd LLC Purchases New Stake in Energy Transfer LP (NYSE:ET)

Transce3nd LLC purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,020 shares of the pipeline company's stock, valued at approximately $1,079,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the fourth quarter worth approximately $25,000. GAMMA Investing LLC acquired a new position in Energy Transfer during the fourth quarter worth $29,000. United Community Bank purchased a new position in shares of Energy Transfer during the fourth quarter worth $35,000. Financial Life Planners acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $37,000. Finally, Tortoise Investment Management LLC raised its holdings 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 buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, 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 report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Stock Performance

ET traded up $0.13 during trading on Wednesday, hitting $17.11. 13,996,014 shares of the stock were exchanged, compared to its average volume of 15,207,326. The firm has a market capitalization of $58.71 billion, a P/E ratio of 13.37, a PEG ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a fifty day moving average price of $18.12 and a two-hundred day moving average price of $18.46. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is 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.