Natixis Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Natixis lifted its position in Energy Transfer LP (NYSE:ET) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,619,124 shares of the pipeline company’s stock after buying an additional 962,800 shares during the period. Energy Transfer accounts for 1.7% of Natixis’ portfolio, making the stock its 9th biggest position. Natixis’ holdings in Energy Transfer were worth $286,389,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $1,297,000. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 37,633 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Wedbush Securities Inc. boosted its position in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company’s stock valued at $2,650,000 after purchasing an additional 41,438 shares in the last quarter. Finally, Paragon Capital Management Ltd grew its stake in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 1.9 %

NYSE:ET opened at $17.24 on Friday. The firm has a market capitalization of $59.14 billion, a P/E ratio of 13.46, a PEG ratio of 0.64 and a beta of 1.32. The company’s fifty day moving average price is $18.24 and its 200-day moving average price is $18.44. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

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 net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend 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 currently 101.56%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ET. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.