Bard Financial Services Inc. Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Bard Financial Services Inc. boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 22.4% in the first quarter, Holdings Channel.com reports. The fund owned 68,250 shares of the pipeline company’s stock after acquiring an additional 12,500 shares during the quarter. Bard Financial Services Inc.’s holdings in Energy Transfer were worth $1,269,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Transfer by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock valued at $387,416,000 after purchasing an additional 1,093,381 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares in the last quarter. Finally, Natixis raised its position in Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after purchasing an additional 962,800 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ET. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, 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 research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Trading Up 1.6%

ET opened at $18.00 on Wednesday. The firm has a market cap of $61.75 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.64 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The stock has a fifty day moving average price of $17.18 and a 200-day moving average price of $18.61.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company posted $0.32 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. 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 7.28%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio is currently 99.24%.

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.