Energy Transfer LP (NYSE:ET) Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Energy Transfer LP (NYSE:ET) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 7,586,598 shares of the pipeline company’s stock after acquiring an additional 293,088 shares during the quarter. Energy Transfer makes up about 9.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Energy Transfer were worth $148,621,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new stake in shares of Energy Transfer in the second quarter valued at about $290,000. Benjamin F. Edwards & Company Inc. increased its position in Energy Transfer by 31.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock valued at $132,000 after acquiring an additional 1,963 shares during the period. Sei Investments Co. raised its stake in Energy Transfer by 77.4% during the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after acquiring an additional 20,093 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Energy Transfer by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock valued at $1,598,000 after purchasing an additional 3,887 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Energy Transfer in the 2nd quarter valued at approximately $422,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Down 0.6 %

ET opened at $20.93 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a one year low of $13.79 and a one year high of $21.45. The business’s fifty day moving average is $19.31 and its two-hundred day moving average is $17.31.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. Analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.