Cambridge Investment Research Advisors Inc. Has $16.67 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Cambridge Investment Research Advisors Inc. grew its position in Energy Transfer LP (NYSE:ET) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,207,751 shares of the pipeline company’s stock after purchasing an additional 71,530 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Energy Transfer were worth $16,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Bank of New York Mellon Corp lifted its holdings in Energy Transfer by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 77,753 shares of the pipeline company’s stock valued at $1,091,000 after buying an additional 5,174 shares during the period. MGO One Seven LLC lifted its stake in shares of Energy Transfer by 32.8% in the 3rd quarter. MGO One Seven LLC now owns 15,003 shares of the pipeline company’s stock valued at $210,000 after purchasing an additional 3,704 shares during the period. Corient Private Wealth LLC boosted its position in shares of Energy Transfer by 0.6% in the 3rd quarter. Corient Private Wealth LLC now owns 1,597,576 shares of the pipeline company’s stock worth $22,414,000 after purchasing an additional 9,413 shares during the last quarter. NBC Securities Inc. bought a new stake in Energy Transfer in the third quarter valued at about $771,000. Finally, Lincoln National Corp lifted its stake in Energy Transfer by 20.8% in the third quarter. Lincoln National Corp now owns 196,968 shares of the pipeline company’s stock valued at $2,763,000 after buying an additional 33,850 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Citigroup boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, UBS Group boosted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $18.43.

Energy Transfer Stock Up 0.2 %

ET stock traded up $0.03 during mid-day trading on Friday, hitting $15.44. 12,152,520 shares of the company were exchanged, compared to its average volume of 12,147,900. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer LP has a 1-year low of $12.31 and a 1-year high of $16.40. The firm’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $14.63. The firm has a market cap of $52.03 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.42 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 8.21%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 116.51%.

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.