4 days Ago By Defense World Staff
Envestnet Asset Management Inc. lowered its holdings in Energy Transfer LP (NYSE:ET – Free Report) by 0.1% during the fourth quarter, according to the company in its most recent filing with the SEC.
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 reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ET. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer during the 4th quarter worth $25,000.
GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter valued at approximately $29,000. United Community Bank purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $35,000. Financial Life Planners acquired a new stake in Energy Transfer in the 4th quarter valued at about $37,000.
Finally, Tortoise Investment Management LLC increased its holdings in Energy Transfer by 111.1% during 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 in the last quarter.
Institutional investors and hedge funds own 38.22% of the company’s stock. Energy Transfer Stock PerformanceEnergy Transfer stock opened at $17.
10 on Wednesday. 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 company has a fifty day moving average price of $18.
41 and a two-hundred day moving average price of $18.43. Energy Transfer LP has a 12 month low of $14.
60 and a 12 month high of $21.45. The company 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 (NYSE:ET – Get Free Report) last issued 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 return on equity of 11.56% and a net margin of 5.74%.
Research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year. Energy Transfer Increases DividendThe business also recently declared 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 dividend yield of 7.60%. This is an increase 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%. Analysts Set New Price TargetsSeveral research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Energy Transfer from $20.
00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. 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. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.
00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th.
One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.
09.Check Out Our Latest Stock Analysis on Energy TransferEnergy 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.
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