Clearbridge Investments LLC Purchases 374,000 Shares of Energy Transfer LP $ET

Clearbridge Investments LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,014,994 shares of the pipeline company’s stock after purchasing an additional 374,000 shares during the quarter. Clearbridge Investments LLC’s holdings in Energy Transfer were worth $214,617,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Energy Transfer by 3.2% during 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 grew its holdings in shares of Energy Transfer by 1.4% during 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. grew its holdings in shares of Energy Transfer by 2.6% during 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. CIBC Bancorp USA Inc. acquired a new stake in shares of Energy Transfer during the 3rd quarter worth $264,309,000. Finally, Berkley W R Corp grew its holdings in shares of Energy Transfer by 14.5% during the 3rd quarter. Berkley W R Corp now owns 7,250,000 shares of the pipeline company’s stock worth $124,410,000 after purchasing an additional 915,506 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ET. Stifel Nicolaus increased 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. Wells Fargo & Company increased their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. 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. Finally, Truist Financial began coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Two equities research 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 data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

NYSE:ET opened at $19.44 on Monday. The stock’s 50-day simple moving average is $19.47 and its 200 day simple moving average is $18.27. The firm has a market capitalization of $66.89 billion, a PE ratio of 16.20, a price-to-earnings-growth 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. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70.

Energy Transfer (NYSE:ET) 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 business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. On average, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed 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 yield of 6.9%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is 112.50%.

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.