Energy Transfer LP $ET is Blackhill Capital Inc.’s 9th Largest Position

Blackhill Capital Inc. increased its stake in shares of Energy Transfer LP (NYSE:ET) by 65.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,160,000 shares of the pipeline company’s stock after purchasing an additional 460,000 shares during the quarter. Energy Transfer makes up 1.0% of Blackhill Capital Inc.’s holdings, making the stock its 9th largest position. Blackhill Capital Inc.’s holdings in Energy Transfer were worth $19,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. North Star Investment Management Corp. lifted its stake in shares of Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after purchasing an additional 80,786 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock worth $21,634,000 after purchasing an additional 75,700 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Energy Transfer by 436.6% during the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock worth $1,487,000 after purchasing an additional 73,359 shares during the last quarter. Chase Investment Counsel Corp raised its stake in Energy Transfer by 277.6% in the third quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company’s stock valued at $3,759,000 after buying an additional 161,067 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Energy Transfer by 2.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after buying an additional 544,944 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, May 26th. Finally, Barclays reiterated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Trading Up 1.6%

Shares of NYSE:ET opened at $19.06 on Friday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The stock has a market cap of $65.59 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.11 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $19.44 and a 200-day moving average price of $18.34.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 7.1%. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.