Northern Right Capital Management L.P. Reduces Position in Energy Transfer LP $ET

Northern Right Capital Management L.P. decreased its position in Energy Transfer LP (NYSE:ET) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 231,821 shares of the pipeline company’s stock after selling 46,178 shares during the period. Energy Transfer comprises approximately 1.2% of Northern Right Capital Management L.P.’s portfolio, making the stock its 20th biggest holding. Northern Right Capital Management L.P.’s holdings in Energy Transfer were worth $3,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Brighton Jones LLC increased its position in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Energy Transfer by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 247,599 shares of the pipeline company’s stock worth $4,489,000 after purchasing an additional 6,857 shares during the last quarter. Geode Capital Management LLC increased its holdings in Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in Energy Transfer by 5.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 93,741 shares of the pipeline company’s stock valued at $1,700,000 after purchasing an additional 4,478 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.0%

Shares of Energy Transfer stock opened at $18.76 on Tuesday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $18.18 and a 200-day moving average price of $17.31. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.02 and a beta of 0.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. Energy Transfer’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is 110.74%.

Analysts Set New Price Targets

ET has been the subject of several research analyst reports. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Barclays restated an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. TD Cowen lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Finally, Wells Fargo & Company raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Profile

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.