Resolute Capital LLC Purchases Shares of 76,775 Energy Transfer LP $ET

Key Points

• Resolute Capital LLC initiated a new position in Energy Transfer LP, buying 76,775 shares worth about $1.27 million in the fourth quarter. The stake represents about 0.5% of its portfolio.
• Analyst sentiment remains positive, with several firms reiterating buy/overweight ratings and price targets as high as $25. MarketBeat’s consensus rating is Buy, with an average target of $23.45.
• Energy Transfer reported mixed quarterly results, beating revenue expectations but missing EPS estimates, while also raising its dividend to $0.3375 per share quarterly for a 7.0% yield.

Resolute Capital LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 76,775 shares of the pipeline company's stock, valued at approximately $1,266,000. Energy Transfer makes up approximately 0.5% of Resolute Capital LLC's investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc. boosted its stake in Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company's stock valued at $216,000 after purchasing an additional 560 shares in the last quarter. Marks Wealth LLC boosted its stake in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company's stock valued at $207,000 after purchasing an additional 560 shares in the last quarter. SP Asset Management LLC boosted its stake in Energy Transfer by 2.0% during the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company's stock valued at $505,000 after purchasing an additional 589 shares in the last quarter. Gables Capital Management Inc. boosted its stake in Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in Energy Transfer by 2.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company's stock valued at $463,000 after purchasing an additional 607 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Energy Transfer in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Wells Fargo & Company raised their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $23.45.

Energy Transfer Stock Performance

ET opened at $19.16 on Monday. The firm has a market cap of $65.93 billion, a PE ratio of 15.97, a P/E/G ratio of 1.12 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $19.43 and a 200-day simple moving average of $18.17. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share 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 the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business's revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.41 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's dividend payout ratio is 112.50%.

Energy Transfer 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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