Ninepoint Partners LP Grows Position in Energy Transfer LP (NYSE:ET)

Ninepoint Partners LP lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 30.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,832 shares of the pipeline company’s stock after purchasing an additional 18,595 shares during the quarter. Ninepoint Partners LP’s holdings in Energy Transfer were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings 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 worth $469,920,000 after purchasing an additional 1,723,683 shares during the period. Chickasaw Capital Management LLC grew its holdings in shares of Energy Transfer by 2.5% during 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. Brookfield Corp ON grew its holdings in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $18.72 on Friday. 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 fifty-two week low of $14.90 and a fifty-two week high of $21.45. The firm has a market capitalization of $64.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The stock’s 50-day simple moving average is $19.65 and its 200-day simple moving average is $18.17.

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

Energy Transfer Increases Dividend

The firm also recently announced 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 represents a $1.30 annualized dividend and a dividend yield of 6.95%. 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 dividend payout ratio (DPR) is 101.56%.

Analyst Upgrades and Downgrades

ET has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Citigroup raised their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

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.