Banco BTG Pactual S.A. Takes $670,000 Position in Energy Transfer LP (NYSE:ET)

Banco BTG Pactual S.A. bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,000 shares of the pipeline company’s stock, valued at approximately $670,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $25,000. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at $29,000. United Community Bank acquired a new position in shares of Energy Transfer in the fourth quarter worth about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $37,000. Finally, Tortoise Investment Management LLC grew its position in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday. Finally, Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

Energy Transfer stock opened at $18.87 on Wednesday. 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 company has a market capitalization of $64.75 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company’s 50 day simple moving average is $19.54 and its 200-day simple moving average is $18.33. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.89%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.