Energy Transfer LP (NYSE:ET) Shares Purchased by Derbend Asset Management

Derbend Asset Management raised its position in Energy Transfer LP (NYSE:ET) by 108.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,730 shares of the pipeline company’s stock after purchasing an additional 11,296 shares during the quarter. Derbend Asset Management’s holdings in Energy Transfer were worth $300,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ET. VitalStone Financial LLC raised its holdings in shares of Energy Transfer by 100.0% during the 1st quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock valued at $25,000 after buying an additional 1,500 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Energy Transfer during the 1st quarter valued at about $25,000. Rise Advisors LLC raised its holdings 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 period. Tsfg LLC raised its holdings in shares of Energy Transfer by 86.8% during the 3rd quarter. Tsfg LLC now owns 2,152 shares of the pipeline company’s stock valued at $30,000 after buying an additional 1,000 shares during the period. Finally, IMA Wealth Inc. raised its holdings in shares of Energy Transfer by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after buying an additional 1,200 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the topic of several analyst reports. UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup raised their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Energy Transfer Stock Up 1.4 %

ET stock traded up $0.22 during midday trading on Wednesday, hitting $16.00. 9,723,096 shares of the company’s stock were exchanged, compared to its average volume of 12,503,627. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.00. The firm has a 50 day moving average price of $14.83 and a 200-day moving average price of $14.09. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 14.68 and a beta of 1.64.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same period in the previous year, the business earned $0.34 EPS. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a $0.315 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 7.88%. Energy Transfer’s dividend payout ratio (DPR) 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.