DMC Group LLC Buys New Stake in Energy Transfer LP $ET

DMC Group LLC purchased a new stake in Energy Transfer LP (NYSE:ET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,000 shares of the pipeline company’s stock, valued at approximately $515,000.

Several other institutional investors and hedge funds have also made changes to their positions in ET. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Energy Transfer by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after acquiring an additional 1,825,391 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Energy Transfer in the second quarter valued at approximately $168,917,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Energy Transfer by 14.3% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company’s stock valued at $140,911,000 after purchasing an additional 1,029,000 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in Energy Transfer by 6.0% during the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock worth $110,958,000 after purchasing an additional 363,623 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in shares of Energy Transfer by 2.6% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,351,145 shares of the pipeline company’s stock worth $91,826,000 after buying an additional 136,507 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.33 on Friday. The stock’s 50-day moving average price is $16.64 and its 200 day moving average price is $17.07. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $59.50 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were given a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 106.40%.

Analyst Ratings Changes

A number of research firms recently commented on ET. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Finally, Barclays restated an “overweight” rating and set a $22.00 price target (down previously from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the purchase, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.

About Energy Transfer

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.