Advisors Asset Management Inc. Boosts Holdings in Energy Transfer LP (NYSE:ET)

Advisors Asset Management Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 27.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 329,859 shares of the pipeline company’s stock after purchasing an additional 71,871 shares during the period. Advisors Asset Management Inc.’s holdings in Energy Transfer were worth $6,462,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. United Community Bank acquired a new stake in Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC grew its position in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Trading Down 1.2 %

NYSE:ET opened at $18.67 on Wednesday. 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 LP has a 52-week low of $14.90 and a 52-week high of $21.45. The stock’s 50 day moving average price is $19.62 and its 200 day moving average price is $18.23. The company has a market capitalization of $64.04 billion, a PE ratio of 14.58, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.96%. 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 payout ratio 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.