Virtu Financial LLC Invests $5.68 Million in Energy Transfer LP $ET

Virtu Financial LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel reports. The fund purchased 344,370 shares of the pipeline company’s stock, valued at approximately $5,679,000.

Other large investors have also recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after buying an additional 25,366,594 shares during the period. Alps Advisors Inc. increased its stake in shares of Energy Transfer by 8.0% during the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after buying an additional 6,192,066 shares during the period. Invesco Ltd. increased its stake in shares of Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after buying an additional 1,773,042 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Energy Transfer by 0.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock valued at $637,764,000 after acquiring an additional 103,245 shares in the last quarter. Finally, Energy Income Partners LLC raised its holdings in shares of Energy Transfer by 1.4% in the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock valued at $400,706,000 after acquiring an additional 326,653 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ET. Stifel Nicolaus increased their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Truist Financial started coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Price Performance

ET opened at $18.77 on Friday. The firm has a market capitalization of $64.60 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The business’s 50-day moving average is $19.43 and its two-hundred day moving average is $18.42. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $0.3375 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 7.2%. 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.