Progeny 3 Inc. Has $45.21 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Progeny 3 Inc. raised its holdings in Energy Transfer LP (NYSE:ET) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 2,307,785 shares of the pipeline company’s stock after acquiring an additional 43,700 shares during the quarter. Energy Transfer accounts for 3.6% of Progeny 3 Inc.’s holdings, making the stock its 14th largest position. Progeny 3 Inc.’s holdings in Energy Transfer were worth $45,210,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer in the 4th quarter valued at $25,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at $29,000. United Community Bank bought a new position in shares of Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter valued at $37,000. Finally, Tortoise Investment Management LLC lifted its stake in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $18.03 on Thursday. The stock has a 50-day moving average price of $17.46 and a 200-day moving average price of $18.52. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. 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 cap of $61.86 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.27%. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ET shares. Wells Fargo & Company lowered their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. 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. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.