FFG Partners LLC Decreases Stock Holdings in Energy Transfer LP $ET

Key Points

• FFG Partners LLC cut its stake in Energy Transfer by 31.1% in Q4, selling 385,346 shares and now holding 854,593 shares worth about $14.09 million, representing 4.1% of its portfolio and the firm's 9th largest holding.
• Energy Transfer recently raised its quarterly dividend to $0.335 (annualized $1.34), producing a ~7.0% yield while its dividend payout ratio is about 110.7%.
• Analysts carry a consensus rating of "Moderate Buy" with a $21.60 price target; the company reported a revenue beat but an EPS miss (EPS $0.25 vs. $0.34 estimate) in its most recent quarter.

FFG Partners LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 854,593 shares of the pipeline company's stock after selling 385,346 shares during the quarter. Energy Transfer comprises 4.1% of FFG Partners LLC's portfolio, making the stock its 9th biggest holding. FFG Partners LLC's holdings in Energy Transfer were worth $14,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Lee Financial Co increased its stake in Energy Transfer by 359.7% in the 3rd quarter. Lee Financial Co now owns 193,817 shares of the pipeline company's stock worth $3,326,000 after acquiring an additional 151,657 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Energy Transfer by 6.0% in the 3rd quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company's stock worth $110,958,000 after acquiring an additional 363,623 shares during the last quarter. Corient Private Wealth LLC increased its stake 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 worth $30,654,000 after acquiring an additional 1,168,440 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Energy Transfer by 5.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company's stock worth $50,235,000 after acquiring an additional 144,037 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Energy Transfer by 150.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 105,003 shares of the pipeline company's stock worth $1,802,000 after acquiring an additional 63,043 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays reaffirmed an "overweight" rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Scotiabank reaffirmed an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. TD Cowen lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Truist Financial assumed coverage on Energy Transfer in a research note on Tuesday, March 24th. They issued a "buy" rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Energy Transfer in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $19.21 on Monday. The stock has a market cap of $66.07 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.07 and a beta of 0.62. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock has a 50 day moving average price of $18.79 and a 200-day moving average price of $17.53. Energy Transfer LP has a one year low of $15.41 and a one year high of $19.85.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The company had revenue of $25.32 billion during 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%.Energy Transfer's revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a $0.335 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.0%. Energy Transfer's dividend payout ratio (DPR) is presently 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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