Energy Transfer LP $ET Shares Sold by Infrastructure Capital Advisors LLC

Key Points

• Infrastructure Capital Advisors reduced its Energy Transfer stake by 2.4% in the fourth quarter, selling 75,000 shares and leaving it with 3.03 million shares valued at about $49.9 million.
• Several other institutional investors increased their positions, and overall institutional ownership of Energy Transfer stands at 38.22%.
• Analysts remain broadly positive: the stock has a Buy consensus with an average price target of $23.45, while Energy Transfer also recently raised its quarterly dividend to $0.3375 per share, implying a 7.2% yield.

Infrastructure Capital Advisors LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,027,317 shares of the pipeline company's stock after selling 75,000 shares during the period. Energy Transfer comprises 4.8% of Infrastructure Capital Advisors LLC's holdings, making the stock its 6th largest position. Infrastructure Capital Advisors LLC owned approximately 0.09% of Energy Transfer worth $49,920,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. North Star Investment Management Corp. boosted its stake in shares of Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company's stock worth $2,664,000 after buying an additional 80,786 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company's stock worth $21,634,000 after buying an additional 75,700 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Energy Transfer by 436.6% during the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company's stock worth $1,487,000 after buying an additional 73,359 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of Energy Transfer by 277.6% during the 3rd quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company's stock worth $3,759,000 after buying an additional 161,067 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Energy Transfer by 2.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company's stock worth $375,777,000 after buying an additional 544,944 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 27th. TD Cowen reaffirmed a "buy" rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Citigroup reaffirmed a "buy" rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Wells Fargo & Company upped their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $23.45.

Energy Transfer Stock Down 0.9%

Energy Transfer stock opened at $18.75 on Thursday. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The company's 50-day moving average price is $19.43 and its two-hundred day moving average price is $18.40. The stock has a market cap of $64.51 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.10 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The firm's revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer's payout ratio is 112.50%.

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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