Energy Transfer LP (NYSE:ET) is Walnut Private Equity Partners LLC’s 2nd Largest Position

Walnut Private Equity Partners LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,985,000 shares of the pipeline company’s stock after purchasing an additional 37,500 shares during the period. Energy Transfer makes up approximately 20.7% of Walnut Private Equity Partners LLC’s holdings, making the stock its 2nd largest holding. Walnut Private Equity Partners LLC owned approximately 0.06% of Energy Transfer worth $38,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ET. Empowered Funds LLC lifted its position in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after buying an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $1,297,000. Kingsview Wealth Management LLC boosted its position in Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares during the period. Paragon Capital Management Ltd increased its holdings in Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares during the period. Finally, FMR LLC raised its position in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ET. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Price Performance

Shares of ET opened at $21.07 on Friday. The firm’s 50-day simple moving average is $19.23 and its two-hundred day simple moving average is $17.28. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The stock has a market cap of $72.14 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last posted 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 company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. Analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

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.