Energy Transfer LP (NYSE:ET) Position Lifted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Energy Transfer LP (NYSE:ET) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,586,598 shares of the pipeline company’s stock after purchasing an additional 293,088 shares during the quarter. Energy Transfer comprises about 9.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.22% of Energy Transfer worth $148,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter valued at about $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ET. Royal Bank of Canada increased 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. The Goldman Sachs Group raised 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. Wells Fargo & Company boosted their price objective on 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 started 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. Finally, Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Down 0.6 %

ET stock opened at $20.93 on Friday. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The company’s 50 day moving average price is $19.31 and its 200 day moving average price is $17.31. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market capitalization of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates 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 was up .2% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given 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 6.16%. Energy Transfer’s dividend payout ratio is currently 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.