Concurrent Investment Advisors LLC Increases Stock Position in Energy Transfer LP $ET

Key Points

• Concurrent Investment Advisors LLC increased its stake in Energy Transfer LP (NYSE:ET) by 53.8% in Q4, adding 116,531 shares to hold 333,306 shares valued at $5.496 million.
• Analysts give ET an average rating of "Moderate Buy" with a consensus price target of $21.60, supported by recent buy and outperform calls from firms including TD Cowen, Truist and UBS.
• Energy Transfer pays a quarterly dividend of $0.335 (annualized $1.34) for a 7.0% yield, but the payout ratio is elevated at about 110.7%, and the company recently missed EPS estimates despite nearly 30% revenue growth year-over-year.

Concurrent Investment Advisors LLC boosted its position in Energy Transfer LP (NYSE:ET - Free Report) by 53.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 333,306 shares of the pipeline company's stock after acquiring an additional 116,531 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Energy Transfer were worth $5,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Financial Life Planners acquired a new stake in Energy Transfer in the 3rd quarter valued at $34,000. Core Alternative Capital purchased a new stake in shares of Energy Transfer in the third quarter worth about $46,000. Clearstead Trust LLC acquired a new stake in shares of Energy Transfer in the third quarter valued at about $50,000. Golden State Wealth Management LLC raised its holdings in shares of Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company's stock valued at $50,000 after buying an additional 817 shares during the period. Finally, Global Wealth Strategies & Associates lifted its position in Energy Transfer by 196.4% during the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company's stock worth $49,000 after acquiring an additional 1,964 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ET. TD Cowen raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Truist Financial started coverage on Energy Transfer in a research report on Tuesday, March 24th. They set a "buy" rating and a $23.00 target price on the stock. Scotiabank reissued an "outperform" rating on shares of Energy Transfer in a report on Friday, January 16th. Jefferies Financial Group restated a "hold" rating on shares of Energy Transfer in a report on Wednesday, February 18th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus price target of $21.60.

Energy Transfer Trading Down 0.3%

NYSE:ET opened at $19.03 on Monday. The company has a market cap of $65.45 billion, a PE ratio of 15.72, a P/E/G ratio of 1.05 and a beta of 0.62. The business's 50 day moving average is $18.92 and its two-hundred day moving average is $17.66. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52 week low of $15.80 and a 52 week high of $19.85.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business's revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.5 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.0%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 110.74%.

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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