Energy Transfer LP (NYSE:ET) Stake Reduced by Kamunting Street Capital Management L.P.

Kamunting Street Capital Management L.P. lessened its holdings in Energy Transfer LP (NYSE:ET) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,232,801 shares of the pipeline company’s stock after selling 104,146 shares during the period. Energy Transfer accounts for approximately 20.9% of Kamunting Street Capital Management L.P.’s holdings, making the stock its largest holding. Kamunting Street Capital Management L.P.’s holdings in Energy Transfer were worth $24,151,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in Energy Transfer by 4.2% in the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 5,127 shares during the period. World Investment Advisors LLC grew its stake in shares of Energy Transfer by 4.6% in the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock valued at $1,265,000 after buying an additional 3,485 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Energy Transfer by 1,265.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after buying an additional 214,446 shares during the period. Tidal Investments LLC lifted its stake in Energy Transfer by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Energy Transfer by 69.8% during the 3rd quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock valued at $1,357,000 after acquiring an additional 34,749 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ET. Stifel Nicolaus boosted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten 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 a consensus target price of $22.09.

Energy Transfer Stock Down 4.1 %

Energy Transfer stock opened at $16.57 on Tuesday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $56.86 billion, a PE ratio of 12.95, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock’s fifty day moving average is $18.18 and its two-hundred day moving average is $18.47.

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

Energy Transfer Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 7.85%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) 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.