NFC Investments LLC raised its holdings in Energy Transfer LP (NYSE:ET – Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,236 shares of the pipeline company’s stock after buying an additional 29,297 shares during the quarter. Energy Transfer accounts for approximately 2.2% of NFC Investments LLC’s holdings, making the stock its 16th biggest holding. NFC Investments LLC’s holdings in Energy Transfer were worth $7,771,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc. increased its holdings in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after buying an additional 560 shares during the period. Marks Wealth LLC increased its holdings in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after buying an additional 560 shares during the period. SP Asset Management LLC increased its holdings in Energy Transfer by 2.0% in the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock valued at $505,000 after buying an additional 589 shares during the period. Gables Capital Management Inc. increased its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Finally, Fiduciary Financial Group LLC increased its holdings in Energy Transfer by 2.2% in the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock valued at $463,000 after buying an additional 607 shares during the period. Institutional investors own 38.22% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on ET shares. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Finally, Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $23.45.
Energy Transfer Stock Down 0.1%
ET opened at $19.04 on Thursday. The firm’s 50-day simple moving average is $19.45 and its 200-day simple moving average is $18.32. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The firm has a market cap of $65.51 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.10 and a beta of 0.55.
Energy Transfer (NYSE:ET – Get Free Report) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 7.1%. 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 currently 112.50%.
About Energy Transfer
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.
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