Energy Transfer LP $ET is BROOKFIELD Corp ON’s 8th Largest Position

BROOKFIELD Corp ON raised its stake in Energy Transfer LP (NYSE:ET) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,626,020 shares of the pipeline company’s stock after acquiring an additional 875,634 shares during the period. Energy Transfer makes up 1.5% of BROOKFIELD Corp ON’s portfolio, making the stock its 8th biggest position. BROOKFIELD Corp ON’s holdings in Energy Transfer were worth $271,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 2.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock worth $710,240,000 after buying an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock worth $449,329,000 after buying an additional 182,705 shares during the period. Energy Income Partners LLC boosted its holdings in Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after buying an additional 2,471,401 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after buying an additional 455,860 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.4%

NYSE ET opened at $17.49 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company has a fifty day moving average of $17.56 and a two-hundred day moving average of $17.68. The firm has a market capitalization of $60.04 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.99 and a beta of 0.85. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the firm posted $0.35 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.5%. Energy Transfer’s payout ratio is 102.33%.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ET. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target on the stock. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating on the stock. Mizuho upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley decreased their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.54.

Energy Transfer 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.