Energy Transfer LP (NYSE:ET) Stake Boosted by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP raised its stake in Energy Transfer LP (NYSE:ET) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,987,750 shares of the pipeline company’s stock after purchasing an additional 1,723,683 shares during the quarter. Energy Transfer accounts for 11.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its biggest position. Kayne Anderson Capital Advisors LP owned 0.70% of Energy Transfer worth $469,920,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in ET. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% in the third 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. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $29,000. United Community Bank purchased a new position in shares of Energy Transfer during the fourth quarter valued at about $35,000. Financial Life Planners bought a new position in Energy Transfer in the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC lifted its holdings in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Citigroup raised their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Performance

Shares of ET opened at $17.84 on Wednesday. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The business’s fifty day simple moving average is $19.72 and its two-hundred day simple moving average is $18.14. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market cap of $61.20 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.64 and a beta of 1.72.

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 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%. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.29%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 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.