Parallel Advisors LLC Purchases 4,126 Shares of Energy Transfer LP (NYSE:ET)

Parallel Advisors LLC boosted its position in Energy Transfer LP (NYSE:ET) by 26.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,990 shares of the pipeline company’s stock after buying an additional 4,126 shares during the period. Parallel Advisors LLC’s holdings in Energy Transfer were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after acquiring an additional 1,723,683 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after acquiring an additional 388,073 shares during the period. Brookfield Corp ON grew its holdings in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. 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 Stock Performance

NYSE:ET opened at $18.65 on Friday. The stock’s 50-day moving average is $19.57 and its 200-day moving average is $18.26. The stock has a market cap of $63.98 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.97%. Energy Transfer’s payout ratio is presently 101.56%.

Energy Transfer Company 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.