Horizon Kinetics Asset Management LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Horizon Kinetics Asset Management LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 311,724 shares of the pipeline company’s stock after acquiring an additional 10,455 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Energy Transfer were worth $6,107,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in ET. FMR LLC boosted its holdings in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the last quarter. Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after purchasing an additional 1,723,683 shares during the last quarter. Finally, Prospera Private Wealth LLC raised its position in shares of Energy Transfer by 1,680.2% in the third quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after acquiring an additional 730,706 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 3.0 %

ET stock opened at $18.72 on Monday. The company has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The firm has a 50-day moving average of $19.65 and a two-hundred day moving average of $18.19.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s dividend payout ratio is 101.56%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Citigroup upped their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.55.

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.