KCM Capital Inc Purchases 240,000 Shares of Energy Transfer LP $ET

KCM Capital Inc raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 840,000 shares of the pipeline company’s stock after purchasing an additional 240,000 shares during the period. Energy Transfer accounts for approximately 2.6% of KCM Capital Inc’s holdings, making the stock its 13th biggest holding. KCM Capital Inc’s holdings in Energy Transfer were worth $16,212,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ET. Brighton Jones LLC raised its position in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. AQR Capital Management LLC raised its stake in Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after buying an additional 8,118 shares during the period. Geode Capital Management LLC lifted its holdings in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in Energy Transfer by 5.6% in the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after acquiring an additional 2,700 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.8%

NYSE ET opened at $20.41 on Thursday. 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. The stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $18.94. The stock has a market capitalization of $70.24 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the business earned $0.36 earnings per share. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ET shares. TD Cowen restated 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday. 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 note on Wednesday, May 6th. Barclays restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.50.

Energy Transfer 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.