Energy Transfer LP $ET Position Boosted by Oak Grove Capital LLC

Oak Grove Capital LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 89.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,500 shares of the pipeline company’s stock after purchasing an additional 199,200 shares during the period. Energy Transfer comprises 0.8% of Oak Grove Capital LLC’s holdings, making the stock its 23rd biggest holding. Oak Grove Capital LLC’s holdings in Energy Transfer were worth $6,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ET. Mountain Capital Investment Advisors Inc. boosted its holdings in Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC increased its holdings in shares of Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after buying an additional 560 shares in the last quarter. Avos Capital Management LLC lifted its position in shares of Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 583 shares during the last quarter. SP Asset Management LLC lifted its position in shares of Energy Transfer by 2.0% during the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 589 shares during the last quarter. Finally, Gables Capital Management Inc. boosted its stake in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Finally, Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Trading Up 0.1%

NYSE ET opened at $18.77 on Friday. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The stock has a market cap of $64.60 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55. The firm’s 50 day moving average price is $19.43 and its two-hundred day moving average price is $18.42.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 7.2%. Energy Transfer’s payout ratio is presently 112.50%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.