Cambridge Investment Research Advisors Inc. Has $33.15 Million Stock Position in Energy Transfer LP $ET

Key Points

• Cambridge Investment Research Advisors reduced its Energy Transfer stake by 5.3% in the fourth quarter, but still held 2.01 million shares worth about $33.15 million.
• Energy Transfer reported Q1 EPS of $0.35, missing estimates, while revenue came in at $27.77 billion, above expectations and up 32.1% year over year.
• The company raised its quarterly dividend to $0.3375 per share, implying an annualized yield of about 6.7%; analysts remain bullish with a consensus Buy rating and average price target of $22.75.

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,010,418 shares of the pipeline company's stock after selling 112,119 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.06% of Energy Transfer worth $33,152,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Financial Co raised its stake in shares of Energy Transfer by 359.7% in the third quarter. Lee Financial Co now owns 193,817 shares of the pipeline company's stock valued at $3,326,000 after purchasing an additional 151,657 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Energy Transfer by 100.1% in the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company's stock valued at $2,664,000 after purchasing an additional 80,786 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Energy Transfer by 5.2% in the third quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company's stock valued at $50,235,000 after purchasing an additional 144,037 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Energy Transfer by 150.2% in the third quarter. Fidelis Capital Partners LLC now owns 105,003 shares of the pipeline company's stock valued at $1,802,000 after purchasing an additional 63,043 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Energy Transfer by 436.6% in the fourth quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company's stock valued at $1,487,000 after purchasing an additional 73,359 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Price Performance

Shares of ET stock opened at $20.18 on Monday. The stock's fifty day moving average is $19.19 and its 200-day moving average is $17.96. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The stock has a market capitalization of $69.43 billion, a PE ratio of 16.81, a PEG ratio of 1.21 and a beta of 0.57. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.67.

Energy Transfer (NYSE:ET - Get Free Report) last announced 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 business had revenue of $27.77 billion for 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%.Energy Transfer's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.3375 per share. The ex-dividend date is Friday, May 8th. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 6.7%. Energy Transfer's dividend payout ratio (DPR) is currently 112.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on ET. Stifel Nicolaus upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. Truist Financial assumed coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a "buy" rating and a $23.00 price target on the stock. Citigroup reiterated a "buy" rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on Energy Transfer from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of "Buy" and a consensus price target of $22.75.

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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