Energy Transfer LP $ET Shares Bought by LPL Financial LLC

LPL Financial LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,696,319 shares of the pipeline company’s stock after purchasing an additional 235,863 shares during the quarter. LPL Financial LLC owned 0.22% of Energy Transfer worth $126,912,000 as of its most recent SEC filing.

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

Energy Transfer Price Performance

ET stock opened at $19.04 on Thursday. 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 company has a market capitalization of $65.51 billion, a PE ratio of 15.86, a P/E/G ratio of 1.10 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. The business’s fifty day moving average price is $19.45 and its 200 day moving average price is $18.32.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share 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 company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter last year, the company earned $0.36 EPS. Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared 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 is a positive change 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 yield of 7.1%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Wall Street Analysts Forecast Growth

ET has been the topic of several research analyst reports. Morgan Stanley boosted 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 reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 26th. Barclays reiterated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Finally, Wells Fargo & Company boosted their price objective on 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 issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $23.45.

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.