Janney Montgomery Scott LLC Has $16.75 Million Position in Energy Transfer LP $ET

Key Points

• Janney Montgomery Scott increased its Energy Transfer stake by 7.4% in the first quarter, bringing its position to 867,869 shares valued at about $16.75 million.
• Several other institutional investors also raised their holdings, and overall 38.22% of the stock is owned by institutions and hedge funds.
• Analysts remain broadly positive on Energy Transfer, with an average Buy rating and consensus price target of $23.45, while the stock recently traded around $19.14 and offers a 7.1% dividend yield.

Janney Montgomery Scott LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 867,869 shares of the pipeline company's stock after purchasing an additional 60,168 shares during the period. Janney Montgomery Scott LLC's holdings in Energy Transfer were worth $16,750,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after acquiring an additional 11,844 shares during the period. AQR Capital Management LLC increased its position in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company's stock worth $391,000 after acquiring an additional 8,118 shares during the period. Geode Capital Management LLC raised its position in shares of Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company's stock valued at $2,455,000 after buying an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Energy Transfer by 436.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company's stock valued at $76,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in Energy Transfer by 5.6% in the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company's stock valued at $923,000 after purchasing an additional 2,700 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays restated an "overweight" rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. TD Cowen reissued a "buy" rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Raymond James Financial reiterated a "strong-buy" rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Truist Financial assumed coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a "buy" rating and a $23.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $23.45.

Energy Transfer Trading Up 0.4%

ET opened at $19.14 on Wednesday. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company's 50-day moving average is $19.45 and its 200 day moving average is $18.55. The firm has a market capitalization of $65.88 billion, a PE ratio of 15.95, a P/E/G ratio of 1.10 and a beta of 0.55.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's payout ratio is currently 112.50%.

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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