Energy Transfer LP $ET Shares Acquired by Texas Yale Capital Corp.

Key Points

• Texas Yale Capital Corp. increased its Energy Transfer stake by 6.1% in the fourth quarter, adding 75,700 shares to bring its total holdings to 1,311,965 shares worth about $21.6 million.
• Energy Transfer reported mixed quarterly results, with earnings per share of $0.35 missing estimates while revenue came in at $27.77 billion, above expectations and up 32.1% from a year earlier.
• The company raised its quarterly dividend to $0.3375 per share, and analysts remain broadly bullish with an average Buy rating and a consensus price target of $23.45.

Texas Yale Capital Corp. grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,311,965 shares of the pipeline company's stock after purchasing an additional 75,700 shares during the period. Energy Transfer makes up approximately 0.7% of Texas Yale Capital Corp.'s holdings, making the stock its 15th largest holding. Texas Yale Capital Corp.'s holdings in Energy Transfer were worth $21,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in Energy Transfer during the 3rd quarter worth approximately $264,309,000. Alps Advisors Inc. lifted its position in Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company's stock worth $1,332,492,000 after acquiring an additional 3,366,734 shares in the last quarter. Invesco Ltd. lifted its position in Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company's stock worth $992,923,000 after acquiring an additional 1,773,042 shares in the last quarter. SG Americas Securities LLC lifted its position in Energy Transfer by 187.1% during the 4th quarter. SG Americas Securities LLC now owns 1,940,500 shares of the pipeline company's stock worth $31,999,000 after acquiring an additional 1,264,627 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Energy Transfer by 223.7% during the 2nd quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company's stock worth $30,654,000 after acquiring an additional 1,168,438 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.16 on Friday. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $65.93 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The business has a 50 day simple moving average of $19.43 and a 200-day simple moving average of $18.16.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter last year, the firm posted $0.36 earnings per share. Energy Transfer's revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts expect that Energy Transfer LP will post 1.41 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.3375 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. Energy Transfer's dividend payout ratio (DPR) is presently 112.50%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Wednesday. Barclays restated an "overweight" rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Energy Transfer has an average rating of "Buy" and an average price target of $23.45.

Energy Transfer Company 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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