Duff & Phelps Investment Management Co. Has $69.24 Million Stake in Energy Transfer LP (NYSE:ET)

Duff & Phelps Investment Management Co. lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,017,412 shares of the pipeline company’s stock after selling 487,000 shares during the period. Duff & Phelps Investment Management Co. owned 0.16% of Energy Transfer worth $69,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ET. Brookstone Capital Management grew its holdings in Energy Transfer by 64.6% during the 3rd quarter. Brookstone Capital Management now owns 144,500 shares of the pipeline company’s stock worth $2,027,000 after acquiring an additional 56,703 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Energy Transfer by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,131,591 shares of the pipeline company’s stock valued at $15,876,000 after acquiring an additional 40,050 shares during the period. Busey Trust CO grew its holdings in Energy Transfer by 32.8% during the third quarter. Busey Trust CO now owns 16,177 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 4,000 shares during the period. Cumberland Advisors Inc. increased its stake in Energy Transfer by 12.6% in the third quarter. Cumberland Advisors Inc. now owns 13,209 shares of the pipeline company’s stock valued at $185,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Sweet Financial Partners LLC boosted its position in shares of Energy Transfer by 15.7% during the third quarter. Sweet Financial Partners LLC now owns 57,968 shares of the pipeline company’s stock worth $813,000 after purchasing an additional 7,874 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ET. Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group dropped their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, Mizuho reiterated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Down 1.4 %

ET traded down $0.23 during trading on Tuesday, reaching $15.75. 7,554,871 shares of the stock were exchanged, compared to its average volume of 12,170,119. The stock has a market cap of $53.07 billion, a P/E ratio of 14.51 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The stock’s 50 day moving average price is $15.39 and its two-hundred day moving average price is $14.35. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter last year, the company posted $0.34 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a $0.317 dividend. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.05%. Energy Transfer’s dividend payout ratio is presently 115.60%.

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.