Crescent Grove Advisors LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Crescent Grove Advisors LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,041 shares of the pipeline company’s stock after purchasing an additional 6,279 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Energy Transfer were worth $7,210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ET. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares during the period. Citigroup Inc. grew its holdings in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its position in Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Down 0.6 %

Shares of ET stock opened at $20.93 on Friday. Energy Transfer LP has a 1-year low of $13.79 and a 1-year high of $21.45. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $19.39 and a 200-day simple moving average of $17.34.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, equities research analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders 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 dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Energy Transfer Company 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.