Rockefeller Capital Management L.P. Grows Stake in Energy Transfer LP $ET

Rockefeller Capital Management L.P. boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,544,553 shares of the pipeline company’s stock after buying an additional 578,137 shares during the period. Rockefeller Capital Management L.P.’s holdings in Energy Transfer were worth $74,940,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in Energy Transfer by 41.6% during the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after buying an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after buying an additional 6,192,066 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Energy Transfer by 0.3% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock worth $637,764,000 after acquiring an additional 103,245 shares during the last quarter. Finally, Energy Income Partners LLC boosted its position in shares of Energy Transfer by 1.4% during the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after acquiring an additional 326,653 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.1%

Shares of NYSE ET opened at $18.77 on Friday. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The business’s 50 day moving average is $19.42 and its two-hundred day moving average is $18.42. The stock has a market capitalization of $64.60 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is 112.50%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target on the stock. Barclays reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Citigroup reiterated a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.