Empire Financial Management Company LLC Raises Stake in Energy Transfer LP $ET

Empire Financial Management Company LLC grew its position in Energy Transfer LP (NYSE:ET) by 13.9% in the first quarter, HoldingsChannel.com reports. The firm owned 360,835 shares of the pipeline company’s stock after acquiring an additional 44,137 shares during the period. Energy Transfer accounts for approximately 1.6% of Empire Financial Management Company LLC’s investment portfolio, making the stock its 11th biggest holding. Empire Financial Management Company LLC’s holdings in Energy Transfer were worth $6,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Talon Private Wealth LLC bought a new stake in shares of Energy Transfer during the 1st quarter valued at $1,012,000. Recurrent Investment Advisors LLC lifted its stake in shares of Energy Transfer by 3.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock valued at $107,354,000 after buying an additional 211,026 shares in the last quarter. Empowered Funds LLC boosted its holdings in Energy Transfer by 48.8% in the 1st quarter. Empowered Funds LLC now owns 1,982,403 shares of the pipeline company’s stock worth $38,260,000 after buying an additional 649,718 shares during the period. Ashford Capital Management Inc. boosted its holdings in Energy Transfer by 5.7% in the 1st quarter. Ashford Capital Management Inc. now owns 195,153 shares of the pipeline company’s stock worth $3,766,000 after buying an additional 10,530 shares during the period. Finally, Excelsior Advisor Network LLC purchased a new stake in Energy Transfer in the 1st quarter worth $901,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

NYSE ET opened at $20.23 on Wednesday. The company has a market cap of $69.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.15 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The business’s 50 day moving average price is $19.54 and its 200-day moving average price is $19.04. 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) last released its quarterly earnings results 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Sell-side analysts predict that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $0.34 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, August 7th. Energy Transfer’s payout ratio is currently 112.50%.

More Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Energy Transfer was upgraded to Strong Buy after analysts cited reduced project-execution risk and a raised full-year EBITDA outlook. First-quarter EBITDA reportedly increased about 20% year over year to approximately $4.9 billion, while guidance was raised to as much as $18.6 billion. NGL debottlenecking and the Hugh Brinson Pipeline are progressing ahead of or on schedule, potentially supporting additional earnings growth. Energy Transfer: Strong Buy On A Quiet Multiple, A Loud Guidance Raise
• Positive Sentiment: The partnership announced its nineteenth consecutive quarterly cash-distribution increase, raising the payment to $0.34 per common unit, or $1.36 annualized. The distribution is payable August 19 to unitholders of record August 7, reinforcing ET’s appeal to income-focused investors and signaling confidence in cash-flow growth. Energy Transfer Announces Nineteenth Consecutive Increase in Quarterly Cash Distribution
• Positive Sentiment: Analysts see potential for faster distribution growth, with a projected 2027 payout of approximately $1.416 per unit and a forward yield above 7%. Diversification across midstream businesses and leverage below management’s target range further support the bullish income thesis. Energy Transfer: A 7% Yield With Upsizing Distribution Growth On The Horizon
• Neutral Sentiment: ET is being featured as a low-beta, relatively defensive stock amid market uncertainty and higher oil prices, which may attract investors seeking stability. Zacks.com Featured Highlights
• Negative Sentiment: Leverage of roughly 3.85 times EBITDA remains higher than that of some peers, potentially limiting valuation expansion and keeping investors focused on debt reduction and distribution coverage. Energy Transfer: A 7% Yield With Upsizing Distribution Growth On The Horizon

Wall Street Analyst Weigh In

A number of research firms have commented on ET. JPMorgan Chase & Co. raised their price target on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Stifel Nicolaus increased their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citigroup reissued a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Finally, TD Cowen reissued a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $23.50.

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.