Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,207,751 shares of the pipeline company’s stock after purchasing an additional 71,530 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Energy Transfer were worth $16,667,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. InterOcean Capital Group LLC boosted its position in shares of Energy Transfer by 2.0% in the 4th quarter. InterOcean Capital Group LLC now owns 47,697 shares of the pipeline company’s stock valued at $658,000 after purchasing an additional 918 shares during the period. Nemes Rush Group LLC increased its position in shares of Energy Transfer by 35,031.8% in the fourth quarter. Nemes Rush Group LLC now owns 7,729 shares of the pipeline company’s stock worth $107,000 after acquiring an additional 7,707 shares in the last quarter. Certified Advisory Corp acquired a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $140,000. Corient Private Wealth LLC lifted its position in shares of Energy Transfer by 1.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,624,151 shares of the pipeline company’s stock valued at $22,413,000 after acquiring an additional 26,575 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Energy Transfer by 38.7% in the 4th quarter. D.A. Davidson & CO. now owns 208,553 shares of the pipeline company’s stock valued at $2,878,000 after acquiring an additional 58,147 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Up 0.2 %
NYSE ET traded up $0.03 on Friday, reaching $15.44. The stock had a trading volume of 12,152,520 shares, compared to its average volume of 12,147,900. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 1 year low of $12.31 and a 1 year high of $16.40. The business has a 50 day moving average price of $15.75 and a 200 day moving average price of $14.64. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.42 and a beta of 1.63.
Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts forecast that Energy Transfer LP will post 1.45 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 8.21%. Energy Transfer’s dividend payout ratio is 116.51%.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus upped their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.43.
Get Our Latest Report on Energy Transfer
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.
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