Fmr LLC Purchases 5,254,721 Shares of Energy Transfer LP (NYSE:ET)

Fmr LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,634,018 shares of the pipeline company’s stock after acquiring an additional 5,254,721 shares during the period. Fmr LLC owned about 1.13% of Energy Transfer worth $756,840,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $29,000. United Community Bank bought a new position in shares of Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC increased its holdings in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET opened at $15.92 on Tuesday. The company has a 50-day simple moving average of $19.10 and a two-hundred day simple moving average of $18.46. 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 firm has a market capitalization of $54.61 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last released its 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 net margin of 5.74% and a return on equity of 11.56%. On average, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 8.17%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Ratings Changes

ET has been the subject of several analyst reports. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. The Goldman Sachs Group lifted their target price 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. Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.09.

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.