Park Avenue Securities LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Park Avenue Securities LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 43.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,324 shares of the pipeline company’s stock after buying an additional 5,216 shares during the period. Park Avenue Securities LLC’s holdings in Energy Transfer were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ET. United Advisor Group LLC grew its holdings in Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after buying an additional 534 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after acquiring an additional 535 shares in the last quarter. Cannell & Spears LLC raised its position in shares of Energy Transfer by 0.4% in the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in Energy Transfer by 18.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 3,649 shares of the pipeline company’s stock valued at $71,000 after buying an additional 556 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Energy Transfer by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 596 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ET shares. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Mizuho increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Morgan Stanley upped their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company decreased their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Stock Down 0.8%

ET opened at $18.30 on Monday. The business’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $18.58. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a market capitalization of $62.78 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.16%. Energy Transfer’s payout ratio is 99.24%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.