Energy Transfer LP $ET Stock Position Boosted by Recurrent Investment Advisors LLC

Key Points

• Recurrent Investment Advisors LLC boosted its stake in Energy Transfer (NYSE:ET) by 4.1% to 4,986,943 shares, making ET its second-largest holding and representing about 0.15% of the company worth $85.58 million.
• Energy Transfer reported quarterly EPS of $0.25, missing consensus by $0.09, while revenue topped estimates at $25.32 billion, up 29.6% year-over-year.
• The firm raised its quarterly dividend to $0.335 (annualized $1.34) for a 7.2% yield, and analysts hold an average "Moderate Buy" rating with a $21.40 price target.

Recurrent Investment Advisors LLC increased its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,986,943 shares of the pipeline company's stock after acquiring an additional 194,137 shares during the quarter. Energy Transfer makes up about 6.5% of Recurrent Investment Advisors LLC's holdings, making the stock its 2nd biggest position. Recurrent Investment Advisors LLC owned 0.15% of Energy Transfer worth $85,576,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ET. Lee Financial Co boosted its stake in shares of Energy Transfer by 359.7% during the third quarter. Lee Financial Co now owns 193,817 shares of the pipeline company's stock worth $3,326,000 after buying an additional 151,657 shares during the period. Eagle Global Advisors LLC grew its holdings in shares of Energy Transfer by 6.0% during the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company's stock worth $110,958,000 after buying an additional 363,623 shares during the last quarter. Corient Private Wealth LLC increased its position in Energy Transfer by 223.7% in the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company's stock valued at $30,654,000 after acquiring an additional 1,168,440 shares during the period. Jump Financial LLC raised its stake in Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company's stock valued at $32,477,000 after acquiring an additional 1,727,104 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in Energy Transfer by 5.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company's stock valued at $50,235,000 after acquiring an additional 144,037 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Tuesday. Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research report on Friday, January 16th. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a "moderate buy" rating in a research note on Monday, December 15th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $21.40.

Energy Transfer Price Performance

Shares of ET opened at $18.58 on Friday. 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 stock's 50 day moving average is $18.09 and its two-hundred day moving average is $17.29. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30. The firm has a market capitalization of $63.91 billion, a PE ratio of 15.35, a P/E/G ratio of 1.02 and a beta of 0.63.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The business had revenue of $25.32 billion for the quarter, compared to analysts' expectations of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business's quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. The ex-dividend date was Friday, February 6th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.2%. Energy Transfer's dividend payout ratio (DPR) is currently 110.74%.

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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