Jennison Associates LLC Acquires 1,208,725 Shares of Energy Transfer LP (NYSE:ET)

Jennison Associates LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 35.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,654,670 shares of the pipeline company’s stock after buying an additional 1,208,725 shares during the quarter. Jennison Associates LLC owned about 0.15% of Energy Transfer worth $64,234,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rise Advisors LLC increased its holdings in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares in the last quarter. Ronald Blue Trust Inc. bought a new stake in shares of Energy Transfer during the 3rd quarter valued at about $34,000. Harbor Investment Advisory LLC grew its stake in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. BluePath Capital Management LLC bought a new stake in shares of Energy Transfer during the 3rd quarter valued at about $37,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $40,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.4 %

Shares of NYSE:ET opened at $15.84 on Tuesday. The stock has a 50 day moving average of $15.23 and a 200 day moving average of $14.27. The company has a market cap of $53.37 billion, a PE ratio of 14.53 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.04.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, equities research analysts expect 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 Tuesday, February 20th. Investors of record on Wednesday, February 7th were paid a dividend of $0.315 per share. The ex-dividend date was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.95%. Energy Transfer’s payout ratio is 115.60%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ET. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Mizuho restated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.