46,708 Shares in Energy Transfer LP $ET Purchased by Excelsior Advisor Network LLC

Excelsior Advisor Network LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the first quarter, Holdings Channel.com reports. The firm purchased 46,708 shares of the pipeline company’s stock, valued at approximately $901,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Basepoint Wealth LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Gables Capital Management Inc. grew its holdings in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $35,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $32,000. Finally, Financial Life Planners purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $40,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ET. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Barclays reissued an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, May 26th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.50.

Energy Transfer Trading Down 2.2%

Shares of ET stock opened at $19.91 on Tuesday. The company’s fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $19.02. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The stock has a market capitalization of $68.50 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion during 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%.Energy Transfer’s revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.8%. This is an increase 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.