Kavar Capital Partners Group LLC Acquires 33,211 Shares of Energy Transfer LP $ET

Kavar Capital Partners Group LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 196.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,111 shares of the pipeline company’s stock after purchasing an additional 33,211 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Energy Transfer were worth $967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley grew its holdings in shares of Energy Transfer by 41.6% during the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after purchasing an additional 25,366,594 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Energy Transfer during the 3rd quarter worth approximately $264,309,000. Alps Advisors Inc. lifted its stake in Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares during the last quarter. Invesco Ltd. lifted its stake in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Finally, Jump Financial LLC boosted its position in Energy Transfer by 128.0% in the fourth quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock valued at $42,634,000 after buying an additional 1,451,613 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ET. Citigroup reaffirmed 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. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Morgan Stanley raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Price Performance

ET stock opened at $18.77 on Friday. The company has a fifty day moving average price of $19.42 and a 200-day moving average price of $18.42. The company has a market capitalization of $64.60 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17.

Energy Transfer (NYSE:ET) last issued 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 business had revenue of $27.77 billion for the quarter, compared to analyst estimates 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 for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Energy Transfer Company 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.