Tectonic Advisors LLC Purchases 55,624 Shares of Energy Transfer LP $ET

Key Points

• Tectonic Advisors LLC increased its stake in Energy Transfer by 8.3%, buying 55,624 shares to own 726,693 shares worth about $11.98 million at the end of the quarter.
• Energy Transfer raised its quarterly dividend to $0.335 (annualized $1.34) for a 7.0% yield, though the dividend payout ratio is elevated at 110.74%.
• The company missed Q results with EPS $0.25 vs. $0.34 expected while revenue rose 29.6% to $25.32 billion, and analysts hold a consensus "Moderate Buy" rating with a $21.60 target.

Tectonic Advisors LLC grew its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 726,693 shares of the pipeline company's stock after buying an additional 55,624 shares during the period. Tectonic Advisors LLC's holdings in Energy Transfer were worth $11,983,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in Energy Transfer by 4.5% in the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company's stock worth $1,332,492,000 after purchasing an additional 3,366,734 shares in the last quarter. Invesco Ltd. lifted its holdings in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company's stock worth $992,923,000 after purchasing an additional 1,773,042 shares in the last quarter. Energy Income Partners LLC lifted its holdings in Energy Transfer by 1.4% in the 3rd quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company's stock worth $400,706,000 after purchasing an additional 326,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Energy Transfer by 2.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company's stock worth $375,777,000 after purchasing an additional 544,944 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in Energy Transfer in the 3rd quarter worth approximately $264,309,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $19.21 on Monday. Energy Transfer LP has a 52 week low of $15.41 and a 52 week high of $19.85. The company has a market capitalization of $66.07 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.07 and a beta of 0.62. The stock's fifty day moving average is $18.79 and its two-hundred day moving average is $17.53. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm had revenue of $25.32 billion during the quarter, compared to analysts' expectations of $23.56 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. Energy Transfer's quarterly revenue was up 29.6% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a dividend of $0.335 per share. This is an increase 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 currently 110.74%.

Analyst Upgrades and Downgrades

ET has been the topic of several recent research reports. Barclays reaffirmed an "overweight" rating and set a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Truist Financial initiated coverage on Energy Transfer in a report on Tuesday, March 24th. They set a "buy" rating and a $23.00 price objective on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Energy Transfer in a report on Wednesday, February 18th. Royal Bank Of Canada raised Energy Transfer to a "moderate buy" rating in a report on Monday, December 15th. Finally, Wells Fargo & Company boosted their target price on Energy Transfer from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, March 13th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

About Energy Transfer

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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