Energy Transfer LP (NYSE:ET) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in Energy Transfer LP (NYSE:ET) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,830,861 shares of the pipeline company’s stock after purchasing an additional 1,093,585 shares during the period. Nuveen Asset Management LLC owned about 0.08% of Energy Transfer worth $55,457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in shares of Energy Transfer by 7.7% during 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 acquiring an additional 1,723,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Energy Transfer by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock valued at $387,416,000 after acquiring an additional 1,093,381 shares during the period. Natixis lifted its position in shares of Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after acquiring an additional 962,800 shares during the period. Finally, BROOKFIELD Corp ON lifted its position in shares of Energy Transfer by 4.6% during the 4th quarter. BROOKFIELD Corp ON now owns 13,750,386 shares of the pipeline company’s stock valued at $269,370,000 after acquiring an additional 610,462 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. Wells Fargo & Company reduced their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 0.1%

ET stock opened at $17.96 on Monday. The stock has a market capitalization of $61.63 billion, a P/E ratio of 14.03, a PEG ratio of 0.64 and a beta of 0.77. 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 LP has a one year low of $14.60 and a one year high of $21.45. The company has a 50 day moving average price of $17.48 and a two-hundred day moving average price of $18.58.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same period in the previous year, the company earned $0.32 EPS. Energy Transfer’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side 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 will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.29%. Energy Transfer’s payout ratio is currently 99.24%.

Energy Transfer 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.