Energy Transfer LP $ET Stock Position Increased by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON increased its holdings in Energy Transfer LP by 6.4%, now owning over 14 million shares, making it the 8th biggest position in their investment portfolio.
• Multiple institutional investors raised their stakes in Energy Transfer LP, with Militia Capital Partners LP growing its position by 37.6% during the same quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, indicating a 7.5% yield while maintaining a dividend payout ratio of 102.33%.

BROOKFIELD Corp ON lifted its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,626,020 shares of the pipeline company's stock after buying an additional 875,634 shares during the quarter. Energy Transfer comprises 1.5% of BROOKFIELD Corp ON's investment portfolio, making the stock its 8th biggest position. BROOKFIELD Corp ON owned about 0.43% of Energy Transfer worth $271,898,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ET. Militia Capital Partners LP grew its position in shares of Energy Transfer by 37.6% in the first quarter. Militia Capital Partners LP now owns 415,000 shares of the pipeline company's stock valued at $7,715,000 after purchasing an additional 113,400 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Energy Transfer by 2.2% in the first quarter. Hodges Capital Management Inc. now owns 331,178 shares of the pipeline company's stock valued at $6,157,000 after purchasing an additional 7,250 shares in the last quarter. Ellsworth Advisors LLC grew its position in shares of Energy Transfer by 4.7% in the first quarter. Ellsworth Advisors LLC now owns 114,086 shares of the pipeline company's stock valued at $2,121,000 after purchasing an additional 5,132 shares in the last quarter. Rollins Financial Advisors LLC grew its position in shares of Energy Transfer by 18.1% in the first quarter. Rollins Financial Advisors LLC now owns 189,842 shares of the pipeline company's stock valued at $3,529,000 after purchasing an additional 29,133 shares in the last quarter. Finally, Chelsea Counsel Co. purchased a new stake in shares of Energy Transfer in the first quarter worth $372,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ET. Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. Mizuho upped their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. TD Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.54.

Energy Transfer Trading Up 0.4%

Shares of ET stock opened at $17.49 on Friday. The stock has a market capitalization of $60.04 billion, a PE ratio of 13.56, a P/E/G ratio of 0.99 and a beta of 0.85. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The business has a 50-day moving average of $17.56 and a 200 day moving average of $17.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is currently 102.33%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.28% of the company's stock.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.

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