Energy Income Partners LLC Has $380.95 Million Stake in Energy Transfer LP (NYSE:ET)

Energy Income Partners LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 24,217,812 shares of the pipeline company’s stock after selling 107,946 shares during the period. Energy Transfer accounts for approximately 7.8% of Energy Income Partners LLC’s holdings, making the stock its 2nd largest position. Energy Income Partners LLC owned about 0.72% of Energy Transfer worth $380,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of Energy Transfer by 75.5% during the fourth quarter. Pacer Advisors Inc. now owns 237,753 shares of the pipeline company’s stock worth $3,281,000 after acquiring an additional 102,283 shares during the period. PFG Investments LLC boosted its holdings in shares of Energy Transfer by 4.4% during the fourth quarter. PFG Investments LLC now owns 43,567 shares of the pipeline company’s stock worth $601,000 after acquiring an additional 1,854 shares during the period. Highland Capital Management LLC raised its position in shares of Energy Transfer by 29.2% in the fourth quarter. Highland Capital Management LLC now owns 45,770 shares of the pipeline company’s stock valued at $632,000 after buying an additional 10,350 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $40,000. Finally, Good Life Advisors LLC raised its position in shares of Energy Transfer by 14.6% in the fourth quarter. Good Life Advisors LLC now owns 20,707 shares of the pipeline company’s stock valued at $286,000 after buying an additional 2,632 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Trading Up 0.9 %

Shares of Energy Transfer stock traded up $0.14 during trading on Friday, hitting $16.27. The company’s stock had a trading volume of 22,057,655 shares, compared to its average volume of 16,657,606. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The stock has a market cap of $54.83 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The stock has a 50-day moving average price of $15.88 and a two-hundred day moving average price of $15.37. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 117.43%.

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.