Hartree Partners LP Invests $16.08 Million in Energy Transfer LP (NYSE:ET)

Hartree Partners LP bought a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 821,000 shares of the pipeline company’s stock, valued at approximately $16,083,000. Energy Transfer accounts for approximately 6.0% of Hartree Partners LP’s portfolio, making the stock its 4th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. American Money Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $283,000. Strategy Asset Managers LLC boosted its holdings in Energy Transfer by 5.9% in the fourth quarter. Strategy Asset Managers LLC now owns 19,734 shares of the pipeline company’s stock worth $387,000 after purchasing an additional 1,107 shares during the period. Hobbs Group Advisors LLC raised its position in shares of Energy Transfer by 5.3% during the 4th quarter. Hobbs Group Advisors LLC now owns 13,862 shares of the pipeline company’s stock worth $272,000 after purchasing an additional 702 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Energy Transfer by 22.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 82,383 shares of the pipeline company’s stock valued at $1,614,000 after purchasing an additional 14,982 shares during the period. Finally, Level Four Advisory Services LLC grew its position in Energy Transfer by 248.9% in the 4th quarter. Level Four Advisory Services LLC now owns 129,294 shares of the pipeline company’s stock valued at $2,533,000 after buying an additional 92,232 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $18.72 on Friday. The stock’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $18.37. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s payout ratio is presently 101.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ET. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus upped 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. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

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.