Levin Capital Strategies L.P. Boosts Stake in Energy Transfer LP (NYSE:ET)

Levin Capital Strategies L.P. raised its holdings in shares of Energy Transfer LP (NYSE:ETFree Report) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,000 shares of the pipeline company’s stock after purchasing an additional 8,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Energy Transfer were worth $566,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ET. Mutual Advisors LLC boosted its holdings in Energy Transfer by 112.9% in the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 77,938 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Energy Transfer by 230.9% in the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after purchasing an additional 513,989 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Energy Transfer by 3.3% during the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after acquiring an additional 903 shares in the last quarter. Fractal Investments LLC boosted its stake in shares of Energy Transfer by 12.9% during the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after acquiring an additional 647,885 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its stake in shares of Energy Transfer by 22.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after acquiring an additional 77,352 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Mizuho reiterated a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup increased their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

View Our Latest Stock Report on ET

Energy Transfer Stock Up 2.1 %

Shares of Energy Transfer stock traded up $0.32 during trading on Thursday, hitting $15.80. 8,010,301 shares of the stock were exchanged, compared to its average volume of 12,209,901. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of 14.29 and a beta of 1.63. The firm’s 50-day moving average price is $15.42 and its 200 day moving average price is $14.37. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.03%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is 115.60%.

Energy Transfer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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