Empowered Funds LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 48.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,982,403 shares of the pipeline company’s stock after purchasing an additional 649,718 shares during the period. Empowered Funds LLC owned 0.06% of Energy Transfer worth $38,260,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of ET. Brighton Jones LLC boosted its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the period. AQR Capital Management LLC raised its stake in Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 8,118 shares during the period. Geode Capital Management LLC lifted its holdings in Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on ET. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Citigroup restated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Zacks Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.50.
Energy Transfer Trading Down 2.2%
Shares of NYSE:ET opened at $19.91 on Tuesday. The business’s 50 day simple moving average is $19.54 and its 200 day simple moving average is $19.02. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company has a market capitalization of $68.50 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.18 and a beta of 0.55.
Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $0.34 dividend. The ex-dividend date is Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.8%. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.
Energy Transfer 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.
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