Transcend Capital Advisors LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Transcend Capital Advisors LLC raised its position in Energy Transfer LP (NYSE:ET) by 11.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 77,731 shares of the pipeline company’s stock after buying an additional 7,887 shares during the period. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares during the period. BluePath Capital Management LLC purchased a new position in shares of Energy Transfer during the 3rd quarter worth about $37,000. Community Bank N.A. lifted its holdings in shares of Energy Transfer by 55.9% during the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 951 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth about $40,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.1 %

ET opened at $15.96 on Monday. The firm has a 50 day moving average price of $15.36 and a 200 day moving average price of $14.33. The company has a market cap of $53.78 billion, a PE ratio of 14.64 and a beta of 1.64. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter last year, the company earned $0.34 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.94%. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Mizuho reiterated a “buy” rating and set a $19.00 price objective (up 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 stock a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

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.