DCF Advisers LLC Makes New $5.59 Million Investment in Energy Transfer LP (NYSE:ET)

Key Points

• DCF Advisers LLC made a new investment of approximately $5.59 million in Energy Transfer LP, acquiring 300,500 shares which constitutes about 2.7% of their portfolio.
• Energy Transfer declared a quarterly dividend of $0.33 per share, reflecting a 7.4% yield, and has planned a payout on August 19th.
• Analyst ratings for Energy Transfer remain positive, with a consensus of 12 buy ratings and an average price target of $22.58.

DCF Advisers LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 300,500 shares of the pipeline company's stock, valued at approximately $5,586,000. Energy Transfer comprises about 2.7% of DCF Advisers LLC's portfolio, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC boosted its holdings in shares of Energy Transfer by 8.8% in the 1st quarter. Pathway Financial Advisers LLC now owns 97,119 shares of the pipeline company's stock worth $1,805,000 after buying an additional 7,836 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Energy Transfer in the 1st quarter worth about $1,040,000. Cumberland Partners Ltd boosted its holdings in shares of Energy Transfer by 2.7% in the 1st quarter. Cumberland Partners Ltd now owns 376,705 shares of the pipeline company's stock worth $7,003,000 after buying an additional 10,000 shares during the last quarter. IFG Advisory LLC boosted its holdings in shares of Energy Transfer by 19.5% in the 1st quarter. IFG Advisory LLC now owns 130,667 shares of the pipeline company's stock worth $2,429,000 after buying an additional 21,366 shares during the last quarter. Finally, Strategic Advocates LLC boosted its holdings in shares of Energy Transfer by 18.8% in the 1st quarter. Strategic Advocates LLC now owns 12,835 shares of the pipeline company's stock worth $239,000 after buying an additional 2,035 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Down 1.3%

ET stock opened at $17.80 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The company's 50 day moving average is $17.79 and its 200 day moving average is $18.22. The stock has a market cap of $61.09 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.4%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Analyst Ratings Changes

Several equities research analysts have commented on ET shares. TD Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.58.

About Energy Transfer

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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