Oarsman Capital Inc. Raises Holdings in Energy Transfer LP (NYSE:ET)

Oarsman Capital Inc. boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 55.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,630 shares of the pipeline company’s stock after acquiring an additional 937 shares during the quarter. Oarsman Capital Inc.’s holdings in Energy Transfer were worth $52,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Kayne Anderson Capital Advisors LP increased its stake in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Energy Transfer by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock worth $228,470,000 after buying an additional 1,058,603 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Energy Transfer by 8.3% in the 4th quarter. LPL Financial LLC now owns 5,118,880 shares of the pipeline company’s stock worth $100,279,000 after acquiring an additional 392,492 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Down 9.1 %

Shares of Energy Transfer stock opened at $16.12 on Monday. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The stock has a 50 day moving average of $19.18 and a 200 day moving average of $18.46. The firm has a market capitalization of $55.30 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its 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, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 8.07%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ET shares. Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.09.

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.