Energy Transfer LP $ET Holdings Lifted by Energy Income Partners LLC

Energy Income Partners LLC lifted its position in shares of Energy Transfer LP (NYSE:ETFree Report) by 0.2% in the 1st quarter, Holdings Channel reports. The fund owned 25,207,455 shares of the pipeline company’s stock after buying an additional 49,350 shares during the quarter. Energy Transfer accounts for approximately 7.8% of Energy Income Partners LLC’s holdings, making the stock its 2nd largest position. Energy Income Partners LLC’s holdings in Energy Transfer were worth $486,504,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Gables Capital Management Inc. boosted its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer during the fourth quarter worth about $32,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer in the first quarter worth about $35,000. Finally, Navalign LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. Barclays reissued an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Thursday, July 16th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Three investment 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’s stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $23.50.

View Our Latest Report on ET

Energy Transfer Trading Down 2.2%

Shares of Energy Transfer stock opened at $19.91 on Tuesday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The company has a market cap of $68.50 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $19.54 and its 200-day moving average price is $19.02.

Energy Transfer (NYSE:ETGet Free Report) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.8%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is currently 112.50%.

Energy Transfer Company Profile

(Free Report)

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.

Further Reading

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:ETFree Report).

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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.