Banco BTG Pactual S.A. Takes Position in Energy Transfer LP (NYSE:ET)

Banco BTG Pactual S.A. purchased a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel.com reports. The fund purchased 34,000 shares of the pipeline company’s stock, valued at approximately $670,000.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of Energy Transfer by 57.0% during the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after acquiring an additional 7,870 shares during the last quarter. Cerity Partners LLC lifted its holdings in Energy Transfer by 29.1% in the third quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock worth $3,893,000 after acquiring an additional 54,611 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Energy Transfer by 111.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 67,401 shares of the pipeline company’s stock worth $1,082,000 after buying an additional 35,595 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Energy Transfer by 19.7% in the 3rd quarter. Private Trust Co. NA now owns 24,213 shares of the pipeline company’s stock worth $389,000 after acquiring an additional 3,983 shares during the period. Finally, FMR LLC grew its holdings in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.1 %

Shares of ET stock opened at $18.87 on Wednesday. The business’s 50 day moving average is $19.54 and its two-hundred day moving average is $18.33. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The company has a market cap of $64.75 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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 analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. 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 dividend on an annualized basis and a yield of 6.89%. Energy Transfer’s dividend payout ratio is 101.56%.

Analysts Set New Price Targets

ET has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday. Finally, Morgan Stanley boosted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.