Mcguire Capital Advisors Inc. Takes $1.53 Million Position in Energy Transfer LP $ET

Key Points

• Mcguire Capital Advisors initiated a new position in Energy Transfer, buying 92,905 shares valued at about $1.53 million in the fourth quarter. The stock now represents 1.0% of the firm’s holdings.
• Institutional interest in Energy Transfer remains solid, with several other investors boosting stakes and 38.22% of shares currently held by institutions and hedge funds.
• Analysts remain largely positive: the stock carries a consensus rating of “Buy” and an average price target of $23.45, while Energy Transfer also recently raised its quarterly dividend to $0.3375 per share, yielding about 7.2%.

Mcguire Capital Advisors Inc. bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 92,905 shares of the pipeline company's stock, valued at approximately $1,532,000. Energy Transfer makes up 1.0% of Mcguire Capital Advisors Inc.'s holdings, making the stock its 26th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. increased its stake in shares of Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company's stock worth $2,664,000 after purchasing an additional 80,786 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in Energy Transfer by 6.1% in the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company's stock valued at $21,634,000 after purchasing an additional 75,700 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Energy Transfer by 436.6% during the fourth quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company's stock worth $1,487,000 after purchasing an additional 73,359 shares during the period. Chase Investment Counsel Corp grew its holdings in Energy Transfer by 277.6% during the third quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company's stock worth $3,759,000 after purchasing an additional 161,067 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Energy Transfer by 2.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company's stock worth $375,777,000 after buying an additional 544,944 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank reaffirmed an "outperform" rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Jefferies Financial Group upgraded Energy Transfer from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research note on Tuesday, May 26th. Morgan Stanley raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Wednesday, May 27th. TD Cowen reaffirmed a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company 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 issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $23.45.

Energy Transfer Price Performance

NYSE:ET opened at $18.77 on Friday. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. 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 simple moving average is $19.43 and its 200 day simple moving average is $18.42. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 0.55.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business's revenue for the quarter was up 32.1% on a year-over-year basis. As a group, sell-side analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 7.2%. This is an increase from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer's dividend payout ratio is presently 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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