Clear Trail Advisors LLC Invests $3.05 Million in Energy Transfer LP $ET

Clear Trail Advisors LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 184,775 shares of the pipeline company’s stock, valued at approximately $3,047,000.

Other hedge funds have also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC boosted its holdings 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 valued at $321,000 after purchasing an additional 628 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in shares of Energy Transfer by 2.0% in 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 during the period. Perigon Wealth Management LLC lifted its holdings in shares of 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. Veracity Capital LLC boosted its stake in shares of Energy Transfer by 1.9% in the third 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 in the last quarter. Finally, Modern Wealth Management LLC boosted its stake in shares of Energy Transfer by 5.2% in the third quarter. Modern Wealth Management LLC now owns 14,280 shares of the pipeline company’s stock valued at $245,000 after buying an additional 701 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. Barclays reiterated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.04 on Tuesday. The stock has a fifty day moving average price of $18.40 and a 200 day moving average price of $17.35. 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 stock has a market cap of $65.51 billion, a PE ratio of 15.74, a P/E/G ratio of 1.05 and a beta of 0.63. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $19.30.

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 analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm 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. The ex-dividend date was Friday, February 6th. This represents a $1.34 annualized dividend and a yield of 7.0%. Energy Transfer’s payout ratio is 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.