Aire Advisors LLC Boosts Position in Energy Transfer LP (NYSE:ET)

Aire Advisors LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 22.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,964 shares of the pipeline company’s stock after purchasing an additional 4,341 shares during the period. Aire Advisors LLC’s holdings in Energy Transfer were worth $469,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ET. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares during the period. Brookfield Corp ON grew its stake in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after buying an additional 352,625 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.86 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a 50-day simple moving average of $19.56 and a 200 day simple moving average of $18.31. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The company has a market cap of $64.71 billion, a PE ratio of 14.73, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced 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, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. Energy Transfer’s payout ratio is 101.56%.

Analysts Set New Price Targets

Several brokerages have issued reports on ET. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $21.55.

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.