Rockefeller Capital Management L.P. Purchases 204,779 Shares of Energy Transfer LP (NYSE:ET)

Rockefeller Capital Management L.P. boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,702,380 shares of the pipeline company’s stock after purchasing an additional 204,779 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Energy Transfer were worth $72,530,000 at the end of the most recent quarter.

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

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.13 on Friday. 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 firm has a market cap of $55.33 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The stock’s 50-day moving average is $18.55 and its 200-day moving average is $18.42. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities 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 announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 8.06%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ET. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.