Oarsman Capital Inc. Raises Position in Energy Transfer LP (NYSE:ET)

Oarsman Capital Inc. lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 55.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,630 shares of the pipeline company’s stock after acquiring an additional 937 shares during the period. Oarsman Capital Inc.’s holdings in Energy Transfer were worth $52,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at $29,000. United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at $35,000. Financial Life Planners purchased a new stake in Energy Transfer during the 4th quarter worth about $37,000. Finally, Tortoise Investment Management LLC boosted its position in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Down 9.1 %

Shares of ET stock opened at $16.12 on Monday. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $19.18 and its two-hundred day moving average is $18.46. The company has a market capitalization of $55.30 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

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.