InterOcean Capital Group LLC Grows Position in Energy Transfer LP (NYSE:ET)

InterOcean Capital Group LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,697 shares of the pipeline company’s stock after purchasing an additional 918 shares during the period. InterOcean Capital Group LLC’s holdings in Energy Transfer were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ET. Alps Advisors Inc. lifted its stake in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. UBS Group AG increased its stake in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after acquiring an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after buying an additional 3,976,676 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its position in shares of Energy Transfer by 7.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock valued at $210,071,000 after buying an additional 1,060,322 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group increased their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Citigroup raised their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $18.43.

Energy Transfer Trading Down 0.8 %

Energy Transfer stock traded down $0.12 during trading hours on Thursday, reaching $15.61. The company had a trading volume of 2,254,437 shares, compared to its average volume of 12,172,899. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. Energy Transfer LP has a 12-month low of $12.31 and a 12-month high of $16.40. The company has a 50-day moving average price of $15.74 and a 200 day moving average price of $14.62. The firm has a market cap of $52.61 billion, a price-to-earnings ratio of 14.43 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.5 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 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.