Tepp RIA LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Tepp RIA LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,499 shares of the pipeline company’s stock, valued at approximately $206,000. Energy Transfer accounts for approximately 0.3% of Tepp RIA LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Energy Transfer by 7.7% in the fourth 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 during the last quarter. Strategic Financial Concepts LLC grew its position in Energy Transfer by 1,572.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after acquiring an additional 705,475 shares during the period. Mercuria Capital Strategies LLC acquired a new stake in Energy Transfer during the fourth quarter worth about $12,734,000. Finally, Bowen Hanes & Co. Inc. purchased a new position in shares of Energy Transfer in the 4th quarter worth about $10,774,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.1 %

NYSE:ET opened at $18.90 on Friday. The stock has a market cap of $64.86 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a one year low of $14.90 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business’s 50-day simple moving average is $19.49 and its 200 day simple moving average is $18.34.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.88%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. 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 report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.09.

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.