BNP Paribas Financial Markets Has $185.59 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

BNP Paribas Financial Markets raised its holdings in Energy Transfer LP (NYSE:ET) by 36.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,563,478 shares of the pipeline company’s stock after buying an additional 3,106,631 shares during the quarter. BNP Paribas Financial Markets’ holdings in Energy Transfer were worth $185,594,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. raised its position in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares during the last quarter. FMR LLC lifted its position in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. boosted its stake in Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after buying an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after buying an additional 466,565 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET opened at $19.19 on Wednesday. The company has a fifty day moving average price of $16.78 and a two-hundred day moving average price of $16.22. The firm has a market capitalization of $65.71 billion, a PE ratio of 14.11, a P/E/G ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $19.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of analyst reports. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $20.00.

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.