Consolidated Portfolio Review Corp Invests $673,000 in Energy Transfer LP (NYSE:ET)

Consolidated Portfolio Review Corp bought a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, Holdings Channel.com reports. The firm bought 34,361 shares of the pipeline company’s stock, valued at approximately $673,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ET. FMR LLC grew its stake in Energy Transfer by 44.0% during 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 during the period. 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 boosted its stake in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after acquiring an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in 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. Finally, Citigroup Inc. increased its stake in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ET shares. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company lifted their price target 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. Finally, Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

NYSE ET opened at $19.92 on Friday. The company has a fifty day moving average price of $19.71 and a 200-day moving average price of $17.61. The firm has a market cap of $68.19 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.54 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 1 year low of $13.80 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.53%. 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.