CoreCap Advisors LLC Increases Position in Energy Transfer LP (NYSE:ET)

CoreCap Advisors LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,822 shares of the pipeline company's stock after purchasing an additional 31,286 shares during the quarter. CoreCap Advisors LLC's holdings in Energy Transfer were worth $3,875,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. FMR LLC lifted its position in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in shares of Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after buying an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Natixis lifted its stake in Energy Transfer by 7.1% in the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock valued at $286,389,000 after buying an additional 962,800 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Energy Transfer by 4.6% during the 4th quarter. BROOKFIELD Corp ON now owns 13,750,386 shares of the pipeline company's stock valued at $269,370,000 after buying an additional 610,462 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Trading Down 1.8 %

Shares of NYSE ET opened at $15.90 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The business has a 50 day simple moving average of $17.57 and a 200 day simple moving average of $18.49. The stock has a market cap of $54.56 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's dividend payout ratio is currently 102.34%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ET. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer 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.

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