Energy Transfer LP (NYSE:ET) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 45.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,581,762 shares of the pipeline company’s stock after purchasing an additional 3,013,973 shares during the period. Citigroup Inc.’s holdings in Energy Transfer were worth $153,787,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Princeton Global Asset Management LLC lifted its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.06 on Friday. The firm has a market capitalization of $65.26 billion, a PE ratio of 14.01, a P/E/G ratio of 0.55 and a beta of 1.66. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $19.20. The firm’s 50-day simple moving average is $16.66 and its 200 day simple moving average is $16.18. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $20.00.

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.