Aster Capital Management DIFC Ltd Takes Position in Energy Transfer LP (NYSE:ET)

Aster Capital Management DIFC Ltd acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,800 shares of the pipeline company’s stock, valued at approximately $838,000.

A number of other institutional investors have also recently bought and sold shares of ET. 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 valued at $469,920,000 after acquiring an additional 1,723,683 shares in the last quarter. Wells Fargo & Company MN grew its stake in Energy Transfer by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock valued at $228,470,000 after purchasing an additional 1,058,603 shares in the last quarter. Hartree Partners LP acquired a new position in Energy Transfer in the 4th quarter worth about $16,083,000. Strategic Financial Concepts LLC raised its stake in shares of Energy Transfer by 1,572.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock worth $14,699,000 after purchasing an additional 705,475 shares in the last quarter. Finally, Mercuria Capital Strategies LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $12,734,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Performance

ET opened at $16.12 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average price is $19.18 and its two-hundred day moving average price is $18.44. The firm has a market capitalization of $55.30 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. On average, equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.07%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

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.