Heronetta Management L.P. Has $17.33 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Heronetta Management L.P. lowered its position in Energy Transfer LP (NYSE:ET) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 884,654 shares of the pipeline company’s stock after selling 6,900 shares during the period. Energy Transfer comprises 11.2% of Heronetta Management L.P.’s holdings, making the stock its 2nd largest position. Heronetta Management L.P.’s holdings in Energy Transfer were worth $17,330,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ET. FMR LLC increased its holdings in 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in Energy Transfer by 36.7% during the 3rd 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 in the last quarter. Citigroup Inc. increased its holdings in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Prospera Private Wealth LLC increased its holdings in Energy Transfer by 1,680.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after purchasing an additional 730,706 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake 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 worth $14,699,000 after buying an additional 705,475 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.4 %

Shares of ET stock opened at $18.21 on Thursday. The firm has a 50 day moving average price of $19.87 and a two-hundred day moving average price of $18.08. 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 company has a market capitalization of $62.47 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 12-month low of $14.87 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (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%. As a group, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 7.14%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their price objective 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. The Goldman Sachs Group increased their price objective 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. Citigroup increased their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.55.

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.