Marco Investment Management LLC Acquires 5,430 Shares of Energy Transfer LP (NYSE:ET)

Marco Investment Management LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,789 shares of the pipeline company’s stock after purchasing an additional 5,430 shares during the period. Marco Investment Management LLC’s holdings in Energy Transfer were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ET. Alps Advisors Inc. increased its position in shares of Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after acquiring an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after acquiring an additional 7,097,074 shares in the last quarter. UBS Group AG increased its position in shares of Energy Transfer by 3.9% during the third quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock valued at $354,599,000 after acquiring an additional 953,251 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Energy Transfer by 7.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock valued at $210,071,000 after acquiring an additional 1,060,322 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Energy Transfer by 31.1% during the third quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock valued at $173,666,000 after acquiring an additional 2,933,353 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group cut their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Citigroup lifted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Trading Up 0.1 %

Shares of Energy Transfer stock opened at $15.96 on Monday. The company’s fifty day simple moving average is $15.36 and its 200-day simple moving average is $14.33. The stock has a market capitalization 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 current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. As a group, equities analysts anticipate that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm 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 annualized dividend and a dividend yield of 7.94%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

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.