Xcel Wealth Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET – Free Report) during the 1st quarter, HoldingsChannel reports. The firm acquired 58,985 shares of the pipeline company’s stock, valued at approximately $1,138,000.
Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares during the period. AQR Capital Management LLC grew its stake in shares of Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 8,118 shares during the period. Geode Capital Management LLC grew its stake in shares of Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares during the period. Russell Investments Group Ltd. increased its holdings in Energy Transfer by 436.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after acquiring an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Citigroup restated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. 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. Stifel Nicolaus upped their price target 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. Finally, Morgan Stanley raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $23.45.
Energy Transfer Stock Performance
NYSE:ET opened at $19.16 on Friday. The business’s fifty day moving average is $19.43 and its 200 day moving average is $18.50. The firm has a market cap of $65.92 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.10 and a beta of 0.55. 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 52-week low of $16.18 and a 52-week high of $20.70.
Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS 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 the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.3375 dividend. 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. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. 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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