Bokf Na Has $10.04 Million Position in Energy Transfer LP (NYSE:ET)

Bokf Na trimmed its stake in shares of Energy Transfer LP (NYSE:ET) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,738 shares of the pipeline company’s stock after selling 2,800 shares during the quarter. Bokf Na’s holdings in Energy Transfer were worth $10,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ET. First Reserve GP XIII Ltd acquired a new position in Energy Transfer during the 4th quarter worth approximately $322,097,000. Mirae Asset Global Investments Co. Ltd. increased its position in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after acquiring an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its position in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after acquiring an additional 3,976,676 shares during the period. International Assets Investment Management LLC increased its position in Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after acquiring an additional 3,514,195 shares during the period. Finally, UBS Group AG increased its position in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after acquiring an additional 3,368,427 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ET. Stifel Nicolaus upped their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group upped their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Up 0.9 %

NYSE:ET traded up $0.14 during trading hours on Friday, reaching $16.27. The company had a trading volume of 22,057,655 shares, compared to its average volume of 16,657,606. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $54.83 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.44 and a beta of 1.66. The business’s 50-day simple moving average is $15.88 and its two-hundred day simple moving average is $15.35. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, equities analysts expect that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.87%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

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.