Bowen Hanes & Co. Inc. Boosts Holdings in Energy Transfer LP $ET

Bowen Hanes & Co. Inc. boosted its stake in Energy Transfer LP (NYSE:ET) by 39.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 975,000 shares of the pipeline company’s stock after acquiring an additional 275,000 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Energy Transfer were worth $16,731,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ET. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 4.5% in the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock valued at $1,332,492,000 after purchasing an additional 3,366,734 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after buying an additional 1,825,391 shares during the period. Jump Financial LLC lifted its stake in Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after buying an additional 1,727,104 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after acquiring an additional 1,168,440 shares during the period. Finally, Annandale Capital LLC grew its position in shares of Energy Transfer by 242.1% during the second quarter. Annandale Capital LLC now owns 637,479 shares of the pipeline company’s stock worth $11,557,000 after acquiring an additional 1,086,117 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.3%

ET opened at $18.96 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The business has a 50 day simple moving average of $17.43 and a 200-day simple moving average of $17.17. The stock has a market capitalization of $65.08 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.98 and a beta of 0.66. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $19.88.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.38% 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 quarter in the previous year, the company posted $0.29 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors 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 7.1%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is presently 110.74%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Barclays restated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research report on Wednesday. Finally, Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.27.

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.