Tortoise Investment Management LLC Acquires 1,000 Shares of Energy Transfer LP (NYSE:ET)

Tortoise Investment Management LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 111.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,900 shares of the pipeline company’s stock after purchasing an additional 1,000 shares during the quarter. Tortoise Investment Management LLC’s holdings in Energy Transfer were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new position in Energy Transfer during the 4th quarter valued at $29,000. United Community Bank bought a new stake in Energy Transfer in the 4th quarter valued at $35,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 4th quarter worth about $37,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of Energy Transfer during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ET. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Citigroup lifted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $17.84 on Wednesday. The stock has a market capitalization of $61.20 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.64 and a beta of 1.72. The firm’s 50-day moving average price is $19.72 and its two-hundred day moving average price is $18.14. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS 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%. On average, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal 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 paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.29%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

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.