Energy Transfer LP $ET Shares Purchased by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC raised its stake in Energy Transfer LP (NYSE:ET) by 56.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,028,233 shares of the pipeline company’s stock after buying an additional 1,090,165 shares during the quarter. Energy Transfer comprises approximately 11.3% of Longfellow Investment Management Co. LLC’s investment portfolio, making the stock its 2nd biggest position. Longfellow Investment Management Co. LLC’s holdings in Energy Transfer were worth $49,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mountain Capital Investment Advisors Inc. raised its holdings in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 560 shares in the last quarter. Marks Wealth LLC raised its holdings in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares in the last quarter. SP Asset Management LLC raised its holdings in Energy Transfer by 2.0% in the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 589 shares in the last quarter. Gables Capital Management Inc. increased its stake in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Energy Transfer by 2.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after buying an additional 607 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Citigroup reissued a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Trading Down 0.9%

Shares of ET stock opened at $19.44 on Friday. The firm has a market capitalization of $66.89 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.12 and a beta of 0.55. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The stock’s fifty day simple moving average is $19.47 and its 200 day simple moving average is $18.26.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 6.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 112.50%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.