Advisor Resource Council Makes New Investment in Energy Transfer LP (NYSE:ET)

Advisor Resource Council acquired a new stake in Energy Transfer LP (NYSE:ET) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,717 shares of the pipeline company’s stock, valued at approximately $738,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $35,000. Finally, Tortoise Investment Management LLC increased its stake in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.81 on Friday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The firm has a market capitalization of $61.10 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. The business’s fifty day moving average price is $17.50 and its 200 day moving average price is $18.54.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The business had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same period in the prior year, the firm posted $0.32 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.36%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio is currently 99.24%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director now owns 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Mizuho upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.