Parsons Capital Management Inc. RI Grows Stake in Energy Transfer LP (NYSE:ET)

Parsons Capital Management Inc. RI grew its position in shares of Energy Transfer LP (NYSE:ET) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 782,246 shares of the pipeline company’s stock after buying an additional 5,500 shares during the quarter. Energy Transfer accounts for 0.8% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 26th largest position. Parsons Capital Management Inc. RI’s holdings in Energy Transfer were worth $15,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC raised its stake in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after buying an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. Citigroup Inc. boosted its stake in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its position in Energy Transfer by 1,837.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after acquiring an additional 1,269,778 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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 research report on Monday, December 9th. The Goldman Sachs Group lifted their price target 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. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

NYSE:ET opened at $20.93 on Monday. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.79 and a 1 year high of $21.45. The stock’s 50 day simple moving average is $19.39 and its two-hundred day simple moving average is $17.36. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

About Energy Transfer

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.