Energy Transfer LP (NYSE:ET) Stock Holdings Boosted by Eagle Global Advisors LLC

Eagle Global Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,793,007 shares of the pipeline company’s stock after acquiring an additional 184,626 shares during the quarter. Energy Transfer accounts for 4.7% of Eagle Global Advisors LLC’s holdings, making the stock its 2nd largest holding. Eagle Global Advisors LLC’s holdings in Energy Transfer were worth $113,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the 4th quarter worth $25,000. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $29,000. United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners purchased a new position in Energy Transfer in the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC lifted its stake in 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 in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Performance

Shares of ET opened at $15.90 on Wednesday. The stock has a 50-day simple moving average of $17.57 and a 200-day simple moving average of $18.49. 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 1 year low of $14.60 and a 1 year high of $21.45. The stock has a market capitalization of $54.56 billion, a PE ratio of 12.42, a PEG ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date is Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 8.24%. Energy Transfer’s dividend payout ratio (DPR) is currently 102.34%.

Energy Transfer Company 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.