Energy Transfer LP $ET Stake Boosted by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Energy Transfer stake by 26.9% in the first quarter to 815,302 shares valued at approximately $15.7 million. Hedge funds and institutional investors collectively own 38.22% of the company.
• Energy Transfer reported quarterly revenue of $27.77 billion, up 32.1% year over year and above estimates, but EPS of $0.35 missed consensus by $0.05. The stock opened at $20.23, near its 12-month high of $20.70.
• The company is paying a quarterly dividend of $0.34 per share, representing a 6.7% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $23.50.

First Trust Advisors LP boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 815,302 shares of the pipeline company's stock after buying an additional 172,852 shares during the period. First Trust Advisors LP's holdings in Energy Transfer were worth $15,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ET. Keybank National Association OH increased its position in shares of Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company's stock worth $4,231,000 after acquiring an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. lifted its position in shares of Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company's stock valued at $216,000 after acquiring an additional 560 shares in the last quarter. Marks Wealth LLC boosted its stake in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company's stock worth $207,000 after purchasing an additional 560 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Energy Transfer by 2.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company's stock worth $463,000 after purchasing an additional 562 shares during the period. Finally, Avos Capital Management LLC grew its position in Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company's stock worth $1,265,000 after purchasing an additional 583 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.1%

Energy Transfer stock opened at $20.23 on Thursday. The firm has a market cap of $69.60 billion, a PE ratio of 16.85, a P/E/G ratio of 1.16 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm's 50 day moving average price is $19.54 and its two-hundred day moving average price is $19.07. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) 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 company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same period last year, the business earned $0.36 EPS. The company's quarterly revenue was up 32.1% on a year-over-year basis. On average, research analysts predict that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be issued a dividend of $0.34 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, August 7th. Energy Transfer's dividend payout ratio is 112.50%.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating on shares of Energy Transfer in a report on Wednesday, May 6th. TD Cowen reiterated a "buy" rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Morgan Stanley upped their price target on Energy Transfer from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of "Buy" and a consensus price target of $23.50.

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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