Energy Transfer LP (NYSE:ET) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Energy Transfer LP (NYSE:ET) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,881 shares of the pipeline company’s stock after purchasing an additional 5,420 shares during the period. Van ECK Associates Corp’s holdings in Energy Transfer were worth $2,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC increased its position in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% during the fourth 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. Community Bank N.A. grew its stake in Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after buying an additional 951 shares during the period. Fortitude Family Office LLC purchased a new stake in Energy Transfer during the fourth quarter worth approximately $40,000. Finally, Activest Wealth Management grew its stake in Energy Transfer by 33.9% during the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after buying an additional 736 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective 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. UBS Group decreased their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, Mizuho reiterated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Price Performance

Shares of ET stock opened at $16.12 on Wednesday. The company has a market capitalization of $54.30 billion, a PE ratio of 14.78 and a beta of 1.63. The firm has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $14.43. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.20.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The business 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 business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. The ex-dividend date is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.87%. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.