Militia Capital Management LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 600,000 shares of the pipeline company’s stock, valued at approximately $11,580,000. Energy Transfer comprises about 2.5% of Militia Capital Management LLC’s investment portfolio, making the stock its 4th largest holding.
A number of other large investors also recently added to or reduced their stakes in the business. Basepoint Wealth LLC bought a new stake in Energy Transfer in the fourth quarter worth $25,000. Gables Capital Management Inc. grew its stake in shares of Energy Transfer by 60.0% during the fourth 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 last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Energy Transfer during the first quarter valued at about $35,000. Sarver Vrooman Wealth Advisors purchased a new position in shares of Energy Transfer in the fourth quarter worth about $32,000. Finally, Financial Life Planners purchased a new position in shares of Energy Transfer in the first quarter worth about $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Energy Transfer Stock Performance
Shares of NYSE:ET opened at $20.41 on Thursday. 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 has a 50-day moving average price of $19.54 and a 200-day moving average price of $18.94. The company has a market cap of $70.24 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 112.50%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Stifel Nicolaus boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and an average price target of $23.50.
Check Out Our Latest Research Report on ET
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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