Diversified Enterprises LLC Takes $889,000 Position in Energy Transfer LP $ET

Key Points

• Diversified Enterprises LLC bought a new position of 53,923 shares in Energy Transfer (NYSE:ET), valued at about $889,000, and institutional investors now own roughly 38.22% of the company with large stake increases from firms like Alps Advisors, Invesco and CIBC Bancorp.
• Sell-side analysts have a consensus rating of Moderate Buy and a $21.60 target (one Strong Buy, nine Buy, two Hold), with recent buy reiterations and target increases from firms such as Truist, TD Cowen and UBS.
• Energy Transfer missed Q4 EPS ($0.25 vs. $0.34 estimate) but beat on revenue ($25.32B, +29.6% YoY), and recently raised its quarterly dividend to $0.335 — a 7.0% yield — although the payout ratio is elevated at 110.74%.

Diversified Enterprises LLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 53,923 shares of the pipeline company's stock, valued at approximately $889,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new stake in Energy Transfer during the 3rd quarter valued at about $264,309,000. Alps Advisors Inc. raised its stake in shares of Energy Transfer by 4.5% in the third quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company's stock worth $1,332,492,000 after purchasing an additional 3,366,734 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company's stock worth $992,923,000 after purchasing an additional 1,773,042 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Energy Transfer by 187.1% during the fourth quarter. SG Americas Securities LLC now owns 1,940,500 shares of the pipeline company's stock worth $31,999,000 after purchasing an additional 1,264,627 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company's stock valued at $30,654,000 after buying an additional 1,168,438 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Ratings Changes

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

Energy Transfer Stock Down 0.7%

Shares of ET opened at $19.03 on Friday. The company has a market capitalization of $65.45 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.05 and a beta of 0.62. Energy Transfer LP has a 52 week low of $15.80 and a 52 week high of $19.85. The stock's 50-day moving average price is $18.92 and its 200-day moving average price is $17.65. 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 (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company had revenue of $25.32 billion for the quarter, compared to analysts' expectations of $23.56 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The firm's revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.5 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 annualized dividend and a dividend yield of 7.0%. Energy Transfer's payout ratio is presently 110.74%.

About Energy Transfer

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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