Broderick Brian C Buys New Position in Energy Transfer LP $ET

Broderick Brian C purchased a new position in Energy Transfer LP (NYSE:ET) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 125,000 shares of the pipeline company’s stock, valued at approximately $2,412,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Keybank National Association OH boosted its position in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after purchasing an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. raised its holdings in shares of Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 560 shares in the last quarter. Marks Wealth LLC raised its holdings in shares of Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 560 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Energy Transfer by 2.4% during the first quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 562 shares during the last quarter. Finally, Avos Capital Management LLC lifted its stake in Energy Transfer by 0.8% during the fourth quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 583 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Morgan Stanley raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.55.

Energy Transfer Trading Down 0.1%

Energy Transfer stock opened at $20.30 on Monday. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm has a market capitalization of $69.87 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 0.55. The company has a 50 day moving average price of $19.52 and a 200 day moving average price of $18.86.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s payout ratio is presently 112.50%.

Energy Transfer 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.