Rosenberg Matthew Hamilton Raises Stake in Energy Transfer LP (NYSE:ET)

Rosenberg Matthew Hamilton boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 52.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050 shares of the pipeline company’s stock after buying an additional 1,050 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Energy Transfer were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ET. Bank of New York Mellon Corp boosted its holdings in shares of Energy Transfer by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock valued at $1,532,000 after purchasing an additional 23,079 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Energy Transfer by 0.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 174,002 shares of the pipeline company’s stock worth $2,822,000 after buying an additional 1,020 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Energy Transfer by 10.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 31,806 shares of the pipeline company’s stock worth $516,000 after buying an additional 2,911 shares in the last quarter. Total Clarity Wealth Management Inc. increased its stake in shares of Energy Transfer by 14.0% during the second quarter. Total Clarity Wealth Management Inc. now owns 19,333 shares of the pipeline company’s stock valued at $314,000 after buying an additional 2,377 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in shares of Energy Transfer by 25.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 12,990 shares of the pipeline company’s stock valued at $211,000 after acquiring an additional 2,600 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 2.2 %

Shares of NYSE:ET opened at $19.89 on Wednesday. The business’s 50-day moving average is $18.85 and its 200 day moving average is $17.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.02. The firm has a market capitalization of $68.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, research analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.49%. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ET shares. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

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.