Patient Capital Management LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 697,000 shares of the pipeline company’s stock, valued at approximately $5,736,000. Energy Transfer comprises 1.7% of Patient Capital Management LLC’s investment portfolio, making the stock its 28th largest holding.
Several other large investors also recently added to or reduced their stakes in ET. Bank of America Corp DE lifted its stake in Energy Transfer by 105.2% during the fourth quarter. Bank of America Corp DE now owns 33,409,244 shares of the pipeline company’s stock valued at $274,958,000 after buying an additional 17,125,811 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Energy Transfer by 22.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 88,490,552 shares of the pipeline company’s stock valued at $728,277,000 after acquiring an additional 16,346,887 shares in the last quarter. Morgan Stanley boosted its stake in Energy Transfer by 20.4% in the 3rd quarter. Morgan Stanley now owns 44,719,869 shares of the pipeline company’s stock worth $428,417,000 after purchasing an additional 7,585,837 shares during the period. Stephens Group LLC purchased a new position in Energy Transfer during the 4th quarter worth approximately $46,325,000. Finally, CIBC Private Wealth Group LLC raised its stake in Energy Transfer by 28.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 21,857,533 shares of the pipeline company’s stock valued at $179,888,000 after purchasing an additional 4,878,514 shares during the period. Institutional investors and hedge funds own 48.40% of the company’s stock.
In other news, Director Michael K. Grimm bought 504,600 shares of the business’s stock in a transaction on Wednesday, April 6th. The stock was purchased at an average price of $11.21 per share, with a total value of $5,656,566.00. Following the transaction, the director now directly owns 181,089 shares in the company, valued at $2,030,007.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is currently owned by corporate insiders.
Energy Transfer stock traded up $0.08 during mid-day trading on Friday, hitting $11.65. 19,410,950 shares of the company’s stock were exchanged, compared to its average volume of 22,632,092. Energy Transfer LP has a 1-year low of $7.96 and a 1-year high of $12.48. The stock has a 50 day moving average of $11.21 and a two-hundred day moving average of $9.96. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The stock has a market cap of $35.95 billion, a P/E ratio of 10.99 and a beta of 1.93.
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Energy Transfer had a return on equity of 10.25% and a net margin of 4.58%. The business had revenue of $20.49 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Monday, May 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.87%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 6th. Energy Transfer’s payout ratio is presently 75.47%.
Energy Transfer Profile (Get Rating)
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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