PFG Investments LLC Raises Position in Energy Transfer LP (NYSE:ET)

PFG Investments LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,567 shares of the pipeline company’s stock after buying an additional 1,854 shares during the period. PFG Investments LLC’s holdings in Energy Transfer were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Mutual Advisors LLC raised its position in Energy Transfer by 112.9% during the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 77,938 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after purchasing an additional 513,989 shares in the last quarter. Fractal Investments LLC grew its stake in shares of Energy Transfer by 12.9% during the third quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after buying an additional 647,885 shares during the last quarter. Cutter & CO Brokerage Inc. grew its stake in shares of Energy Transfer by 22.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock valued at $5,912,000 after buying an additional 77,352 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Energy Transfer during the third quarter valued at about $3,936,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.3 %

NYSE ET opened at $15.54 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $52.36 billion, a PE ratio of 14.26 and a beta of 1.64. Energy Transfer LP has a 1 year low of $11.79 and a 1 year high of $15.74. The business’s 50-day moving average is $14.65 and its 200 day moving average is $14.01.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. Sell-side analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 8.11%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, February 6th. Energy Transfer’s payout ratio is presently 115.60%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent research reports. Citigroup raised their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. UBS Group reduced their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

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.