Energy Transfer LP (NYSE:ET) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,391 shares of the pipeline company’s stock after acquiring an additional 77,444 shares during the period. Private Advisor Group LLC’s holdings in Energy Transfer were worth $7,793,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ET. Tower Research Capital LLC TRC increased its stake in Energy Transfer by 6,759.3% during the third quarter. Tower Research Capital LLC TRC now owns 26,820 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 26,429 shares during the last quarter. Lazard Asset Management LLC increased its stake in Energy Transfer by 8.3% during the third quarter. Lazard Asset Management LLC now owns 43,147 shares of the pipeline company’s stock valued at $605,000 after purchasing an additional 3,318 shares during the last quarter. Truist Financial Corp increased its stake in Energy Transfer by 1.4% during the third quarter. Truist Financial Corp now owns 921,933 shares of the pipeline company’s stock valued at $12,935,000 after purchasing an additional 12,371 shares during the last quarter. Lido Advisors LLC increased its stake in Energy Transfer by 0.6% during the third quarter. Lido Advisors LLC now owns 174,393 shares of the pipeline company’s stock valued at $2,447,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Energy Transfer by 15.6% during the third quarter. Royal Bank of Canada now owns 3,660,509 shares of the pipeline company’s stock valued at $51,359,000 after purchasing an additional 494,348 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET traded down $0.15 on Friday, reaching $16.18. The company had a trading volume of 8,279,102 shares, compared to its average volume of 11,813,076. The company has a fifty day moving average of $15.77 and a 200-day moving average of $15.08. The company has a market capitalization of $54.53 billion, a P/E ratio of 14.84, a PEG ratio of 0.45 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.48.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the company posted $0.32 earnings per share. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.84%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ET shares. Stifel Nicolaus upped their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. UBS Group upped their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.