Rockefeller Capital Management L.P. Purchases 578,137 Shares of Energy Transfer LP $ET

Rockefeller Capital Management L.P. lifted its position in Energy Transfer LP (NYSE:ET) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,544,553 shares of the pipeline company’s stock after buying an additional 578,137 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.13% of Energy Transfer worth $74,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC increased its position in shares of Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Energy Transfer by 5.6% during the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.77 on Friday. The company has a market capitalization of $64.60 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The firm’s 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $18.42. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. Research analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 7.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Analyst Ratings Changes

ET has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus price target of $23.45.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.