Rockefeller Capital Management L.P. Has $56.14 Million Position in Energy Transfer LP (NYSE:ET)

Rockefeller Capital Management L.P. raised its position in Energy Transfer LP (NYSE:ET) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,497,601 shares of the pipeline company’s stock after buying an additional 12,545 shares during the quarter. Rockefeller Capital Management L.P. owned 0.10% of Energy Transfer worth $56,137,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FORA Capital LLC acquired a new stake in shares of Energy Transfer in the third quarter valued at approximately $2,004,000. CreativeOne Wealth LLC grew its holdings in shares of Energy Transfer by 27.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 43,087 shares of the pipeline company’s stock worth $692,000 after purchasing an additional 9,335 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Energy Transfer by 3.1% in the third quarter. Glenmede Trust Co. NA now owns 805,159 shares of the pipeline company’s stock worth $12,923,000 after purchasing an additional 24,375 shares during the period. Townsquare Capital LLC raised its stake in Energy Transfer by 7.9% in the third quarter. Townsquare Capital LLC now owns 923,322 shares of the pipeline company’s stock valued at $14,819,000 after purchasing an additional 67,364 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ET. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

Energy Transfer stock opened at $19.86 on Friday. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $68.00 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 1.66. The business has a 50 day moving average of $16.99 and a 200-day moving average of $16.30.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.50%. Energy Transfer’s payout ratio is currently 94.85%.

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.