Appaloosa LP Reduces Stake in Energy Transfer LP (NYSE:ET)

Appaloosa LP reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,914,735 shares of the pipeline company’s stock after selling 1,913,265 shares during the quarter. Energy Transfer comprises 1.5% of Appaloosa LP’s investment portfolio, making the stock its 20th biggest position. Appaloosa LP’s holdings in Energy Transfer were worth $96,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ET. FMR LLC lifted its stake in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after buying an additional 1,723,683 shares during the last quarter. Finally, Prospera Private Wealth LLC increased its holdings in shares of Energy Transfer by 1,680.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after buying an additional 730,706 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Trading Up 3.3 %

Shares of ET opened at $18.42 on Thursday. The stock has a market capitalization of $63.19 billion, a P/E ratio of 14.39, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $19.70 and a two-hundred day simple moving average of $18.14. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

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.