TMB Capital Partners LLC Invests $689,000 in Energy Transfer LP $ET

TMB Capital Partners LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,766 shares of the pipeline company’s stock, valued at approximately $689,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Basepoint Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $25,000. Gables Capital Management Inc. boosted its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors purchased a new position in shares of Energy Transfer in the fourth quarter worth about $32,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the third quarter worth about $34,000. Finally, Navalign LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $37,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.77 on Friday. The company has a 50 day moving average of $19.43 and a 200 day moving average of $18.42. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a market cap of $64.60 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Analysts Set New Price Targets

Several research analysts recently commented on ET shares. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. TD Cowen restated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Morgan Stanley raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Finally, Truist Financial began coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $23.45.

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.