Energy Transfer LP (NYSE:ET) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,155 shares of the pipeline company’s stock after purchasing an additional 1,508 shares during the quarter. Signaturefd LLC’s holdings in Energy Transfer were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Activest Wealth Management raised its stake in shares of Energy Transfer by 33.9% in the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 736 shares during the period. Veracity Capital LLC increased its stake in Energy Transfer by 2.3% during the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after buying an additional 738 shares during the period. Harbor Investment Advisory LLC increased its stake in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares during the period. Cornerstone Wealth Management LLC increased its stake in Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after buying an additional 776 shares during the period. Finally, Morton Capital Management LLC CA increased its stake in Energy Transfer by 1.9% during the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock worth $592,000 after buying an additional 785 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $15.95 on Friday. The company has a 50-day moving average of $15.33 and a 200-day moving average of $14.31. The company has a market capitalization of $53.72 billion, a P/E ratio of 14.63 and a beta of 1.64. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a $0.317 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.95%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 115.60%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ET. UBS Group dropped their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.