Black Swift Group LLC Lowers Stock Position in Energy Transfer LP $ET

Black Swift Group LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 58.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,950 shares of the pipeline company’s stock after selling 107,580 shares during the quarter. Black Swift Group LLC’s holdings in Energy Transfer were worth $1,338,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ET. Quantum Private Wealth LLC grew its holdings in shares of Energy Transfer by 0.5% in the second quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after purchasing an additional 627 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Energy Transfer by 3.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock worth $321,000 after buying an additional 628 shares during the period. Magnus Financial Group LLC lifted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock valued at $539,000 after buying an additional 629 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Energy Transfer by 1.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company’s stock valued at $679,000 after buying an additional 644 shares during the period. Finally, Veracity Capital LLC boosted its position in Energy Transfer by 1.9% in the 3rd quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company’s stock valued at $631,000 after buying an additional 689 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of a number of research analyst reports. Barclays restated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Morgan Stanley lowered their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, TD Cowen lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.20.

Energy Transfer Trading Up 0.3%

NYSE ET opened at $18.73 on Friday. Energy Transfer LP has a one year low of $14.60 and a one year high of $19.30. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The company has a market capitalization of $64.44 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.63. The company’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $17.26.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the previous year, the company posted $0.29 EPS. Energy Transfer’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is currently 110.74%.

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.