65,458 Shares in Energy Transfer LP $ET Acquired by AlTi Global Inc.

AlTi Global Inc. acquired a new stake in Energy Transfer LP (NYSE:ET) during the first quarter, according to its most recent filing with the SEC. The firm acquired 65,458 shares of the pipeline company’s stock, valued at approximately $1,263,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Basepoint Wealth LLC acquired a new position in Energy Transfer during the 4th quarter valued at about $25,000. Gables Capital Management Inc. grew its position in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $32,000. Navalign LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth approximately $37,000. Finally, Vermillion Wealth Management Inc. raised its stake in shares of Energy Transfer by 69.5% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company’s stock worth $39,000 after buying an additional 964 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on ET shares. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. TD Cowen reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Thursday. Truist Financial began coverage on Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $23.55.

Energy Transfer Stock Down 0.2%

Shares of NYSE:ET opened at $20.28 on Tuesday. The company has a 50 day moving average price of $19.53 and a two-hundred day moving average price of $18.88. 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 company has a market capitalization of $69.77 billion, a PE ratio of 16.90, a PEG ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is presently 112.50%.

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.