BROOKFIELD Corp ON Sells 618,086 Shares of Energy Transfer LP $ET

Key Points

• BROOKFIELD Corp ON reduced its Energy Transfer stake by 8.8%, selling 618,086 shares in the first quarter and retaining 6.45 million shares valued at approximately $124.4 million.
• Institutional ownership stands at 38.22%, with several investors increasing their positions. Analysts remain broadly bullish, assigning Energy Transfer an average “Buy” rating and a consensus price target of $23.50.
• Energy Transfer reported quarterly revenue of $27.77 billion, up 32.1% year over year, but earnings per share of $0.35 fell short of the $0.40 consensus estimate. The stock recently traded near its 12-month high at $20.38.

BROOKFIELD Corp ON cut its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,445,333 shares of the pipeline company's stock after selling 618,086 shares during the quarter. Energy Transfer comprises 0.2% of BROOKFIELD Corp ON's holdings, making the stock its 19th biggest position. BROOKFIELD Corp ON owned approximately 0.19% of Energy Transfer worth $124,395,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ET. Lazard Asset Management LLC lifted its stake in Energy Transfer by 13.3% in the first quarter. Lazard Asset Management LLC now owns 27,772 shares of the pipeline company's stock valued at $536,000 after buying an additional 3,256 shares in the last quarter. Family Manage LLC boosted its holdings in shares of Energy Transfer by 40.2% in the first quarter. Family Manage LLC now owns 19,162 shares of the pipeline company's stock valued at $370,000 after buying an additional 5,498 shares during the period. Gateway Wealth Partners LLC increased its position in shares of Energy Transfer by 114.6% during the first quarter. Gateway Wealth Partners LLC now owns 119,838 shares of the pipeline company's stock worth $2,313,000 after acquiring an additional 64,000 shares in the last quarter. Cypress Capital Group bought a new stake in shares of Energy Transfer during the first quarter worth $359,000. Finally, Callodine Capital Management LP raised its holdings in shares of Energy Transfer by 18.3% during the first quarter. Callodine Capital Management LP now owns 1,875,000 shares of the pipeline company's stock worth $36,188,000 after acquiring an additional 290,000 shares during the period. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ET shares. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Citigroup reissued a "buy" rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Three investment 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 company. According to data from MarketBeat, Energy Transfer has an average rating of "Buy" and an average price target of $23.50.

Key Stories Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Energy Transfer Stock Performance

Shares of ET stock opened at $20.38 on Monday. The company's fifty day simple moving average is $19.55 and its 200-day simple moving average is $18.99. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The firm has a market cap of $70.11 billion, a PE ratio of 16.98, a P/E/G ratio of 1.18 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 (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period last year, the business posted $0.36 EPS. The firm's revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Company 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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