Tidemark LLC Increases Stake in Energy Transfer LP (NYSE:ET)

Tidemark LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 58.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,188 shares of the pipeline company’s stock after buying an additional 811 shares during the quarter. Tidemark LLC’s holdings in Energy Transfer were worth $43,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased 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 acquiring an additional 10,195,768 shares during 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 stake in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in 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 during the period. Finally, Prospera Private Wealth LLC increased its position in Energy Transfer by 1,680.2% during the third quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock valued at $12,426,000 after acquiring an additional 730,706 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their price target 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. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Citigroup boosted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One 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, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Price Performance

Shares of ET opened at $18.72 on Monday. The stock has a market capitalization of $64.22 billion, a PE ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The company has a 50 day moving average price of $19.65 and a 200-day moving average price of $18.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results 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%. Equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a 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 payout ratio 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.