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Energy Transfer LP $ET Position Raised by Farther Finance Advisors LLC

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Key Points

  • Farther Finance Advisors raised its stake in Energy Transfer by 69.2% in Q4 to 136,978 shares (worth $2.26M), and several other funds also increased positions while institutional ownership stands at about 38.22%.
  • Energy Transfer reported a quarter with a $0.25 EPS (missing the $0.34 estimate) but revenue of $25.32B (up 29.6% YoY), and it recently raised its quarterly dividend to $0.335 ($1.34 annualized) for a 7.1% yield
  • Wall Street views are broadly positive with a consensus rating of "Moderate Buy" and an average price target of $21.60, while the stock trades around $18.85 with a market cap near $64.8B and a P/E of about 15.6.
  • Five stocks we like better than Energy Transfer.

Farther Finance Advisors LLC raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 69.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 136,978 shares of the pipeline company's stock after buying an additional 56,040 shares during the quarter. Farther Finance Advisors LLC's holdings in Energy Transfer were worth $2,259,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company's stock worth $391,000 after buying an additional 8,118 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company's stock worth $2,455,000 after buying an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Energy Transfer by 436.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company's stock worth $76,000 after acquiring an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company's stock worth $923,000 after acquiring an additional 2,700 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $18.85 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company's 50-day moving average price is $18.85 and its two-hundred day moving average price is $17.58. Energy Transfer LP has a 52 week low of $15.80 and a 52 week high of $19.85. The stock has a market cap of $64.83 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. During the same quarter last year, the firm posted $0.29 earnings per share. Energy Transfer's revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 7.1%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. Energy Transfer's dividend payout ratio (DPR) is presently 110.74%.

Key Stories Impacting Energy Transfer

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 10th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Barclays reiterated an "overweight" rating and set a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. Finally, TD Cowen raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $21.60.

View Our Latest Research Report on Energy Transfer

Energy Transfer Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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