NFC Investments LLC Increases Stake in Energy Transfer LP (NYSE:ET)

NFC Investments LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 57,000 shares of the pipeline company’s stock after acquiring an additional 2,130 shares during the period. Energy Transfer accounts for about 0.3% of NFC Investments LLC’s investment portfolio, making the stock its 26th biggest holding. NFC Investments LLC’s holdings in Energy Transfer were worth $915,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ET. FMR LLC raised its holdings in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the period. International Assets Investment Management LLC raised its position in shares of Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.38 during trading hours on Tuesday, reaching $19.04. 5,889,761 shares of the company’s stock were exchanged, compared to its average volume of 13,677,731. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $20.02. The business has a fifty day moving average of $16.99 and a two-hundred day moving average of $16.30. The company has a market capitalization of $65.19 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Ratings Changes

ET has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $20.00.

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.