Jefferies Financial Group Inc. Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Jefferies Financial Group Inc. increased its stake in Energy Transfer LP (NYSE:ET) by 125.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 469,227 shares of the pipeline company’s stock after buying an additional 260,700 shares during the period. Jefferies Financial Group Inc.’s holdings in Energy Transfer were worth $9,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth approximately $29,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Transfer by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 742,147 shares of the pipeline company’s stock worth $14,539,000 after buying an additional 23,324 shares during the last quarter. Winthrop Advisory Group LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth approximately $245,000. Brookstone Capital Management grew its stake in shares of Energy Transfer by 4.4% in the 4th quarter. Brookstone Capital Management now owns 225,829 shares of the pipeline company’s stock worth $4,424,000 after buying an additional 9,471 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of Energy Transfer by 14.7% in the 4th quarter. Eastern Bank now owns 7,790 shares of the pipeline company’s stock worth $153,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the topic of several recent research reports. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

NYSE ET opened at $17.22 on Monday. The business’s fifty day moving average price is $17.46 and its 200-day moving average price is $18.53. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.61%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. Energy Transfer’s dividend payout ratio is presently 99.24%.

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.