Dynamic Advisor Solutions LLC raised its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 101.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,270 shares of the pipeline company’s stock after purchasing an additional 30,791 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Energy Transfer were worth $727,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Energy Transfer by 3.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 92,975,735 shares of the pipeline company’s stock valued at $927,898,000 after purchasing an additional 3,059,360 shares during the period. Natixis lifted its stake in shares of Energy Transfer by 53.8% in the 2nd quarter. Natixis now owns 35,742,498 shares of the pipeline company’s stock worth $356,752,000 after acquiring an additional 12,504,602 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of Energy Transfer by 3.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 26,135,883 shares of the pipeline company’s stock worth $288,278,000 after acquiring an additional 777,200 shares during the period. Energy Income Partners LLC lifted its stake in shares of Energy Transfer by 8.3% in the 3rd quarter. Energy Income Partners LLC now owns 25,529,480 shares of the pipeline company’s stock worth $281,590,000 after acquiring an additional 1,951,059 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Energy Transfer by 0.8% in the 1st quarter. Clearbridge Investments LLC now owns 22,600,697 shares of the pipeline company’s stock worth $252,902,000 after acquiring an additional 184,203 shares during the period. 37.81% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on ET shares. Citigroup started coverage on shares of Energy Transfer in a research note on Thursday, December 8th. They issued a “buy” rating and a $16.00 price target for the company. Morgan Stanley upped their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Barclays upped their price target on shares of Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, February 21st. Finally, Raymond James increased their target price on shares of Energy Transfer from $15.00 to $17.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 16th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.43.
Energy Transfer Stock Down 0.7 %
Energy Transfer (NYSE:ET – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Energy Transfer had a net margin of 5.17% and a return on equity of 13.55%. The firm had revenue of $20.50 billion for the quarter, compared to analyst estimates of $23.81 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Tuesday, February 7th were issued a dividend of $0.305 per share. The ex-dividend date was Monday, February 6th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 10.45%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.27. Energy Transfer’s payout ratio is currently 87.77%.
Insider Activity
In other news, Chairman Kelcy L. Warren purchased 1,339,398 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were acquired at an average price of $12.99 per share, for a total transaction of $17,398,780.02. Following the completion of the acquisition, the chairman now directly owns 56,917,875 shares of the company’s stock, valued at $739,363,196.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by company insiders.
About Energy Transfer
Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.
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