Vestmark Advisory Solutions Inc. Acquires Shares of 84,874 Energy Transfer LP $ET

Vestmark Advisory Solutions Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 84,874 shares of the pipeline company’s stock, valued at approximately $1,456,000.

Other hedge funds have also bought and sold shares of the company. Lee Financial Co grew its holdings in Energy Transfer by 359.7% in the third quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock worth $3,326,000 after purchasing an additional 151,657 shares during the period. Eagle Global Advisors LLC boosted its position in shares of 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 purchasing an additional 363,623 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of 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 buying an additional 1,168,440 shares during the last quarter. Jump Financial LLC increased its position in Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after buying an additional 1,727,104 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in Energy Transfer by 5.2% during the third quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock valued at $50,235,000 after buying an additional 144,037 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Morgan Stanley reduced their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

Energy Transfer Price Performance

Shares of ET opened at $18.60 on Thursday. The firm has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $17.19. The firm has a market cap of $64.00 billion, a PE ratio of 15.38, a P/E/G ratio of 0.97 and a beta of 0.66. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.51.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The business 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%.The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.335 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is 110.74%.

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.