O Shaughnessy Asset Management LLC Acquires 2,032 Shares of Energy Transfer LP (NYSE:ET)

O Shaughnessy Asset Management LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 20.2% during the 4th quarter, HoldingsChannel reports. The fund owned 12,090 shares of the pipeline company’s stock after purchasing an additional 2,032 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Energy Transfer were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP lifted its holdings 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 worth $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC raised its position in Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Energy Transfer by 4.0% during the fourth 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 during the period. LPL Financial LLC boosted its position in shares of Energy Transfer by 8.3% during the fourth quarter. LPL Financial LLC now owns 5,118,880 shares of the pipeline company’s stock valued at $100,279,000 after buying an additional 392,492 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Energy Transfer by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,994,274 shares of the pipeline company’s stock valued at $97,838,000 after buying an additional 45,862 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ET. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

NYSE ET opened at $16.13 on Monday. The company has a market cap of $55.33 billion, a PE ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 1.32. The firm’s 50 day moving average price is $18.55 and its 200-day moving average price is $18.44. 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 52-week low of $14.60 and a 52-week high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 8.06%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

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.