Employees Retirement System of Texas lowered its position in shares of Energy Transfer LP (NYSE:ET – Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,834,057 shares of the pipeline company’s stock after selling 50,800 shares during the quarter. Employees Retirement System of Texas’ holdings in Energy Transfer were worth $46,734,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Mountain Capital Investment Advisors Inc. lifted its stake in Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 560 shares during the last quarter. Marks Wealth LLC lifted its stake in Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 560 shares during the last quarter. SP Asset Management LLC lifted its stake in Energy Transfer by 2.0% in the fourth quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 589 shares during the last quarter. Gables Capital Management Inc. lifted its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in Energy Transfer by 2.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 607 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on ET. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday. Barclays reissued an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Finally, Truist Financial started coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.27.
Energy Transfer Trading Down 2.3%
Shares of ET stock opened at $19.60 on Wednesday. The company’s fifty day simple moving average is $19.40 and its two-hundred day simple moving average is $18.12. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The stock has a market capitalization of $67.45 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.21 and a beta of 0.57.
Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 32.1% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 112.50%.
Energy Transfer Company Profile
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
Featured Stories
- Five stocks we like better than Energy Transfer
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
- 2 Aluminum Stocks Poised for Big Tariff-Related Gains
- AutoZone’s Pullback Sets Up a Long-Term Buying Opportunity
- AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Free Report).
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.
