Cannell & Co. Acquires 71,451 Shares of Energy Transfer LP (NYSE:ET)

Cannell & Co. raised its holdings in Energy Transfer LP (NYSE:ET) by 63.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,351 shares of the pipeline company’s stock after purchasing an additional 71,451 shares during the quarter. Cannell & Co.’s holdings in Energy Transfer were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC lifted its position in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Energy Transfer during the 3rd quarter worth about $37,000. Community Bank N.A. lifted its holdings in Energy Transfer by 55.9% during the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Energy Transfer during the 4th quarter worth about $40,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $15.48 on Thursday. The firm has a market cap of $52.16 billion, a P/E ratio of 14.20 and a beta of 1.63. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.07. The business’s 50 day moving average price is $15.42 and its 200-day moving average price is $14.37. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.317 dividend. This represents a $1.27 annualized dividend and a yield of 8.19%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is 115.60%.

Analysts Set New Price Targets

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

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.