Fayez Sarofim & Co Buys 140,000 Shares of Energy Transfer LP (NYSE:ET)

Fayez Sarofim & Co raised its stake in shares of Energy Transfer LP (NYSE:ET) by 317.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,056 shares of the pipeline company’s stock after acquiring an additional 140,000 shares during the period. Fayez Sarofim & Co’s holdings in Energy Transfer were worth $3,606,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the fourth quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth about $29,000. United Community Bank bought a new position in Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners purchased a new stake in Energy Transfer during the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC raised its position in Energy Transfer by 111.1% in the fourth 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 during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ET. Stifel Nicolaus increased their target price 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. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

ET stock opened at $16.57 on Tuesday. The firm has a 50 day moving average of $18.18 and a 200-day moving average of $18.47. 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 firm has a market capitalization of $56.86 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. 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.