NFC Investments LLC Has $6.05 Million Stock Position in Energy Transfer LP (NYSE:ET)

NFC Investments LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 442.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,000 shares of the pipeline company’s stock after purchasing an additional 252,000 shares during the period. Energy Transfer makes up approximately 1.7% of NFC Investments LLC’s investment portfolio, making the stock its 18th biggest position. NFC Investments LLC’s holdings in Energy Transfer were worth $6,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. United Community Bank bought a new stake in shares of Energy Transfer during the fourth quarter worth $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ET. Citigroup boosted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their price objective 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. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Performance

Shares of ET opened at $18.72 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $64.22 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The firm’s fifty day simple moving average is $19.65 and its two-hundred day simple moving average is $18.19. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.