Eagle Global Advisors LLC Has $113.49 Million Position in Energy Transfer LP (NYSE:ET)

Eagle Global Advisors LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,793,007 shares of the pipeline company’s stock after buying an additional 184,626 shares during the period. Energy Transfer comprises approximately 4.7% of Eagle Global Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Eagle Global Advisors LLC owned about 0.17% of Energy Transfer worth $113,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the fourth quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $29,000. United Community Bank purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $35,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Tortoise Investment Management LLC lifted its position in 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 during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.8 %

NYSE:ET opened at $15.90 on Wednesday. The firm has a market capitalization of $54.56 billion, a P/E ratio of 12.42, a PEG ratio of 0.64 and a beta of 0.77. The company’s fifty day moving average price is $17.57 and its 200-day moving average price is $18.49. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 8.24%. The ex-dividend date is Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 102.34%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Barclays lifted their target price 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. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.