Energy Transfer LP (NYSE:ET) Shares Purchased by Sanders Morris Harris LLC

Sanders Morris Harris LLC raised its stake in Energy Transfer LP (NYSE:ET) by 22.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,198 shares of the pipeline company’s stock after purchasing an additional 16,000 shares during the period. Sanders Morris Harris LLC’s holdings in Energy Transfer were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Client Services LLC grew its position in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after purchasing an additional 511 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of Energy Transfer by 4.6% during the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after buying an additional 561 shares during the period. Fortis Capital Management LLC grew its holdings in shares of Energy Transfer by 2.0% during the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Finally, Haverford Trust Co increased its position in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group raised their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.8 %

Shares of ET stock opened at $20.21 on Thursday. The stock has a market cap of $69.20 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.57 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.32. The business has a fifty day simple moving average of $18.85 and a 200-day simple moving average of $17.12.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.38%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Energy Transfer 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.