Lee Danner & Bass Inc. Makes New $59,000 Investment in Energy Transfer LP (NYSE:ET)

Lee Danner & Bass Inc. bought a new position in Energy Transfer LP (NYSE:ET) in the fourth quarter, HoldingsChannel reports. The fund bought 3,000 shares of the pipeline company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $29,000. United Community Bank bought a new position in shares of Energy Transfer during the 4th quarter valued at $35,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 4th quarter valued at $37,000. Tortoise Investment Management LLC raised its holdings in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Citizens National Bank Trust Department bought a new position in shares of Energy Transfer during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ET. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Citigroup raised their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Trading Down 1.1 %

Shares of NYSE ET opened at $18.65 on Friday. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45. The company has a market cap of $63.98 billion, a PE ratio of 14.57, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $19.57 and a two-hundred day moving average of $18.27.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.97%. Energy Transfer’s payout ratio is currently 101.56%.

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.