Horizon Kinetics Asset Management LLC Increases Position in Energy Transfer LP (NYSE:ET)

Horizon Kinetics Asset Management LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,724 shares of the pipeline company’s stock after buying an additional 10,455 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Energy Transfer were worth $6,107,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. United Community Bank bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Energy Transfer by 111.1% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ET. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

NYSE ET opened at $18.72 on Monday. The firm’s fifty day simple moving average is $19.65 and its two-hundred day simple moving average is $18.19. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The firm has a market capitalization of $64.22 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (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%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal 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 issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. Energy Transfer’s payout ratio is 101.56%.

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.