650,000 Shares in Energy Transfer LP (NYSE:ET) Purchased by Mercuria Capital Strategies LLC

Mercuria Capital Strategies LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 650,000 shares of the pipeline company’s stock, valued at approximately $12,734,000. Energy Transfer accounts for 4.9% of Mercuria Capital Strategies LLC’s holdings, making the stock its 4th biggest position.

Several other institutional investors have also bought and sold shares of ET. Empowered Funds LLC lifted its holdings in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC lifted its holdings in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 37,633 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ET. Citigroup upped their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Price Performance

Shares of ET opened at $18.42 on Thursday. The company has a market capitalization of $63.19 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. 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 business’s 50-day moving average is $19.70 and its 200-day moving average is $18.14.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 return on equity of 11.56% and a net margin of 5.74%. Equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.06%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 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.