Appaloosa LP Has $96.28 Million Holdings in Energy Transfer LP (NYSE:ET)

Appaloosa LP lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,914,735 shares of the pipeline company’s stock after selling 1,913,265 shares during the period. Energy Transfer accounts for 1.5% of Appaloosa LP’s holdings, making the stock its 20th biggest holding. Appaloosa LP owned about 0.14% of Energy Transfer worth $96,280,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ET. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. Ashton Thomas Securities LLC acquired a new position in Energy Transfer in the third quarter valued at $130,000. Apollon Wealth Management LLC lifted its holdings in Energy Transfer by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 282,705 shares of the pipeline company’s stock valued at $4,537,000 after buying an additional 13,590 shares during the period. Harbour Investments Inc. lifted its holdings in Energy Transfer by 0.9% in the third quarter. Harbour Investments Inc. now owns 119,523 shares of the pipeline company’s stock valued at $1,918,000 after buying an additional 1,066 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Energy Transfer by 59.5% in the third quarter. GSA Capital Partners LLP now owns 89,357 shares of the pipeline company’s stock valued at $1,434,000 after buying an additional 33,342 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 3.3 %

NYSE:ET opened at $18.42 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a 50-day moving average of $19.70 and a 200-day moving average of $18.14. The company has a market cap of $63.19 billion, a PE ratio of 14.39, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a one year low of $14.90 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ET shares. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Company 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.