Forum Financial Management LP Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Forum Financial Management LP grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,394 shares of the pipeline company’s stock after acquiring an additional 2,797 shares during the period. Forum Financial Management LP’s holdings in Energy Transfer were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC grew its position in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after acquiring an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock valued at $387,416,000 after purchasing an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after purchasing an additional 2,512,060 shares in the last quarter. Finally, Natixis increased its stake in Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after buying an additional 962,800 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ET. JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley increased their price objective 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 reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Price Performance

Shares of ET opened at $17.84 on Friday. The firm has a market capitalization of $61.22 billion, a PE ratio of 13.94, a PEG ratio of 0.64 and a beta of 0.77. The company’s 50-day moving average is $17.41 and its 200-day moving average is $18.59. 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 LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.34%. The ex-dividend date was Friday, May 9th. Energy Transfer’s payout ratio is 99.24%.

Energy Transfer Profile

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.