Crestline Management LP Buys Shares of 2,000,000 Energy Transfer LP (NYSE:ET)

Crestline Management LP bought a new stake in shares of Energy Transfer LP (NYSE:ETFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,000,000 shares of the pipeline company’s stock, valued at approximately $27,600,000. Energy Transfer accounts for approximately 2.3% of Crestline Management LP’s holdings, making the stock its 3rd largest position. Crestline Management LP owned approximately 0.06% of Energy Transfer as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Energy Transfer by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 77,753 shares of the pipeline company’s stock worth $1,091,000 after purchasing an additional 5,174 shares during the period. Motco boosted its holdings in shares of Energy Transfer by 157.0% during the third quarter. Motco now owns 6,425 shares of the pipeline company’s stock worth $90,000 after purchasing an additional 3,925 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Energy Transfer by 17.0% during the third quarter. Merit Financial Group LLC now owns 18,990 shares of the pipeline company’s stock worth $266,000 after purchasing an additional 2,753 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in shares of Energy Transfer by 85.4% during the third quarter. Adell Harriman & Carpenter Inc. now owns 55,725 shares of the pipeline company’s stock worth $782,000 after purchasing an additional 25,670 shares during the period. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Energy Transfer by 70.0% during the third quarter. Kingsview Wealth Management LLC now owns 86,432 shares of the pipeline company’s stock worth $1,213,000 after purchasing an additional 35,580 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock traded up $0.13 on Friday, reaching $15.67. 7,126,861 shares of the company were exchanged, compared to its average volume of 11,676,234. Energy Transfer LP has a 12 month low of $12.31 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The stock’s fifty day moving average price is $15.74 and its 200 day moving average price is $14.73. The firm has a market capitalization of $52.81 billion, a PE ratio of 14.38, a PEG ratio of 0.43 and a beta of 1.63.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.317 dividend. This represents a $1.27 annualized dividend and a dividend yield of 8.09%. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 116.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group lifted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Mizuho reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.43.

Check Out Our Latest Report on Energy Transfer

Energy Transfer Company 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.

See Also

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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