Hartree Partners LP Buys New Shares in Energy Transfer LP (NYSE:ET)

Hartree Partners LP purchased a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 821,000 shares of the pipeline company’s stock, valued at approximately $16,083,000. Energy Transfer accounts for about 6.0% of Hartree Partners LP’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds have also recently bought and sold shares of ET. FMR LLC raised its stake in shares of Energy Transfer by 44.0% during 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 during the period. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after buying an additional 1,723,683 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Energy Transfer by 1,572.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after buying an additional 705,475 shares in the last quarter. Mercuria Capital Strategies LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $12,734,000. Finally, Bowen Hanes & Co. Inc. purchased a new stake in Energy Transfer during the fourth quarter valued at about $10,774,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ET has been the topic of several analyst reports. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

Shares of ET stock opened at $18.72 on Friday. The firm’s 50-day moving average is $19.46 and its two-hundred day moving average is $18.37. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market capitalization of $64.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

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.