Rockefeller Capital Management L.P. Buys 12,545 Shares of Energy Transfer LP (NYSE:ET)

Rockefeller Capital Management L.P. boosted its position in Energy Transfer LP (NYSE:ET) by 0.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,497,601 shares of the pipeline company’s stock after acquiring an additional 12,545 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Energy Transfer were worth $56,137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ET shares. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Up 2.3 %

Shares of ET stock opened at $19.86 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $68.00 billion, a P/E ratio of 14.60, a PEG ratio of 0.62 and a beta of 1.66. The company has a 50 day moving average of $16.99 and a 200-day moving average of $16.30. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $20.02.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

About Energy Transfer

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.