Tortoise Capital Advisors L.L.C. increased its holdings in Energy Transfer LP (NYSE:ET) by 1,291.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 33,080,006 shares of the pipeline company’s stock after purchasing an additional 30,702,751 shares during the period. Energy Transfer accounts for approximately 4.2% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 11th biggest holding. Tortoise Capital Advisors L.L.C.’s holdings in Energy Transfer were worth $254,055,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Energy Transfer by 12.7% in the first quarter. Goldman Sachs Group Inc. now owns 74,872,227 shares of the pipeline company’s stock worth $575,018,000 after purchasing an additional 8,437,563 shares during the last quarter. Morgan Stanley boosted its position in Energy Transfer by 29.3% during the fourth quarter. Morgan Stanley now owns 34,769,242 shares of the pipeline company’s stock valued at $214,874,000 after acquiring an additional 7,869,487 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in Energy Transfer by 10.2% during the first quarter. Chickasaw Capital Management LLC now owns 26,072,781 shares of the pipeline company’s stock valued at $200,239,000 after acquiring an additional 2,420,309 shares during the last quarter. Zimmer Partners LP boosted its position in Energy Transfer by 5.0% during the first quarter. Zimmer Partners LP now owns 8,594,255 shares of the pipeline company’s stock valued at $66,004,000 after acquiring an additional 410,309 shares during the last quarter. Finally, Cushing Asset Management LP boosted its position in Energy Transfer by 34.7% during the first quarter. Cushing Asset Management LP now owns 7,978,245 shares of the pipeline company’s stock valued at $61,273,000 after acquiring an additional 2,053,900 shares during the last quarter. 37.58% of the stock is currently owned by institutional investors.
A number of brokerages have commented on ET. Citigroup started coverage on shares of Energy Transfer in a research report on Friday, May 21st. They set a “buy” rating on the stock. TheStreet raised shares of Energy Transfer from a “c” rating to a “b-” rating in a research report on Friday, May 7th. Wolfe Research raised shares of Energy Transfer from a “peer perform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $13.00 in a research report on Friday, July 16th. Wells Fargo & Company raised shares of Energy Transfer from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $13.00 in a research report on Thursday, May 13th. Finally, Evercore ISI raised shares of Energy Transfer from an “in-line” rating to an “outperform” rating in a research report on Wednesday, April 28th. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Energy Transfer has an average rating of “Buy” and an average price target of $12.17.
NYSE:ET traded up $0.04 on Thursday, hitting $10.01. The stock had a trading volume of 336,526 shares, compared to its average volume of 11,266,492. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 1.39. The firm has a market cap of $27.06 billion, a PE ratio of 8.04 and a beta of 2.53. Energy Transfer LP has a 1 year low of $4.98 and a 1 year high of $11.55. The firm’s fifty day simple moving average is $10.45.
Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Thursday, May 6th. The pipeline company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.95. Energy Transfer had a net margin of 7.60% and a return on equity of 14.78%. The firm had revenue of $17 billion during the quarter, compared to analyst estimates of $11.73 billion. During the same quarter last year, the business posted ($0.32) EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.77 EPS for the current fiscal year.
About Energy Transfer
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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