4 days Ago By ABMN Staff
Envestnet Asset Management Inc. reduced its position in Energy Transfer LP ( NYSE:ET – Free Report ) by 0.1% during the 4th quarter, HoldingsChannel.
com reports. The fund owned 913,859 shares of the pipeline company’s stock after selling 677 shares during the quarter. Envestnet Asset Management Inc.
’s holdings in Energy Transfer were worth $17,902,000 at the end of the most recent quarter. A number of other hedge funds also recently modified their holdings of ET. Mountain Hill Investment Partners Corp.
purchased a new stake in shares of Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth approximately $29,000. United Community Bank acquired a new position in Energy Transfer in the 4th quarter valued at $35,000.
Financial Life Planners acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Finally, Tortoise Investment Management LLC increased its position in Energy Transfer by 111.1% in the 4th quarter.
Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Analysts Set New Price Targets A number of equities research analysts recently weighed in on ET shares. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley raised their price objective on shares of Energy Transfer from $20.
00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.
00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and set a $23.
00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.
00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.
09. Energy Transfer Stock Up 1.7 % Shares of Energy Transfer stock opened at $17.
10 on Wednesday. The business’s 50 day simple moving average is $18.41 and its 200 day simple moving average is $18.
43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.
88 and a current ratio of 1.12. The firm has a market cap of $58.
69 billion, a PE ratio of 13.36, a P/E/G ratio of 0.64 and a beta of 1.
32. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.
45. Energy Transfer ( NYSE:ET – Get Free Report ) last announced its quarterly earnings data 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%.
On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year. Energy Transfer Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th.
Shareholders 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 yield of 7.60%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.
32. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is 101.
56%. Energy Transfer Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP ( NYSE:ET – Free Report ).
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